Close X
Tuesday, November 26, 2024
ADVT 
National

Telus Q2 profit takes hit from Blacks closure, operating revenue up 5.1%

The Canadian Press, 07 Aug, 2015 10:36 AM
    VANCOUVER — Telus Corp. (TSX:T) is reporting a 10.5 per cent decline in net income for the second quarter, which included costs related to the closure of the 59 Blacks photography stores.
     
    The Vancouver-based telecom company had $341 million of net income, or 56 cents per share, in the quarter.
     
    That included $59 million of restructuring and similar costs related to both the Blacks closures and its non-core real estate.
     
    Operationally, Telus had a 4.9 per cent increase in adjusted earnings, which rose to $406 million or 66 cents per share. Revenue was up 5.1 per cent at $3.1 billion — an increase of $151 million from last year.
     
    Telus chief executive and president Joe Natale attributed the company's ability to attract and keep subscribers to a strategic focus on creating customer loyalty.
     
    "In this very dynamic and competitive Canadian marketplace, Telus' consistent performance demonstrates how expecting more from ourselves translates into strong results for our customers and shareholders," Natale said. 
     
    The company's wireless segment accounted for $1.7 billion of revenue, up 7.4 per cent from last year, while the wireline segment — including phone, Internet and TV distribution services for homes and businesses — was up 2.3 per cent to $1.4 billion.
     
    Telus says revenue from wireless data services was up 18 per cent, reflecting a growth in its subscriber base, an increase in higher-priced plans, an expanded network and increased adoption of smartphones and other devices that use wireless data.
     
    Telus had 8.35 million wireless subscribers at the end of the quarter, up 3.3 per cent from the same time last year and a net increase of 63,000 from the end of this year's first quarter.
     
    Revenue from data services over its wireline network increased by 7.8 per cent.
     
    In the second quarter of 2014, Telus had $2.95 billion of revenue, $381 million or 62 cents of net income and $387 million or 62 cents of adjusted net income.

    MORE National ARTICLES

    Ontario App Helps Users Find Beaches With The Safes

    Ontario App Helps Users Find Beaches With The Safes
    TORONTO — Canadians looking to take the plunge in safe, clean waters this long weekend can use an app to scour beaches across the country with the best and worst water quality.

    Ontario App Helps Users Find Beaches With The Safes

    52 Kilos Of Cocaine Seized At Ambassador Bridge In Windsor, Ont.: CBSA

    52 Kilos Of Cocaine Seized At Ambassador Bridge In Windsor, Ont.: CBSA
    WINDSOR, Ont. — Canada Border Services Agency says its officers have made a major cocaine bust at the Ambassador Bridge in Windsor, Ont.

    52 Kilos Of Cocaine Seized At Ambassador Bridge In Windsor, Ont.: CBSA

    Couple, Son Win $17.3 Millin In Lotto 6-49; Says Helping Others Came Back To Them

    Couple, Son Win $17.3 Millin In Lotto 6-49; Says Helping Others Came Back To Them
    Gerald, Elizabeth, and Dean Fritsma of Grande Prairie won the millions on the June 17 draw of Lotto 6-49.

    Couple, Son Win $17.3 Millin In Lotto 6-49; Says Helping Others Came Back To Them

    Tories Launch Anti-Mulcair Attack Ads On Eve Of Federal Election Call

    Tories Launch Anti-Mulcair Attack Ads On Eve Of Federal Election Call
    The Conservatives are finally training their sights on NDP Leader Tom Mulcair just as Prime Minister Stephen Harper is about to plunge the country into an 11-week election on Sunday.

    Tories Launch Anti-Mulcair Attack Ads On Eve Of Federal Election Call

    Ministers, Tory MPs Pledge New Cash, Recycle Old Promises As Election Looms

    Ministers, Tory MPs Pledge New Cash, Recycle Old Promises As Election Looms
    OTTAWA — Federal cabinet ministers have made almost $1.6 billion in spending promises in the last two days, as the hours tick down to an expected election call.

    Ministers, Tory MPs Pledge New Cash, Recycle Old Promises As Election Looms

    On Campaign's Eve, Tories Atop Fundraising List, But NDP Leaps To Second Place

    On Campaign's Eve, Tories Atop Fundraising List, But NDP Leaps To Second Place
    OTTAWA — Elections Canada says the Conservative party raised $7.4 million from 45,532 donors in the second quarter of the year.

    On Campaign's Eve, Tories Atop Fundraising List, But NDP Leaps To Second Place