Close X
Wednesday, November 6, 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

    Province Approves New Gold And Silver Mine In Northwestern B.C.

    Province Approves New Gold And Silver Mine In Northwestern B.C.
    VANCOUVER — Construction will begin soon on a new gold and silver mine in northwestern British Columbia.

    Province Approves New Gold And Silver Mine In Northwestern B.C.

    As Many As 60 Hurt, One Seriously In Bus, Car Collision On Highway 1 In B.C.

    As Many As 60 Hurt, One Seriously In Bus, Car Collision On Highway 1 In B.C.
    The accident between the bus and a car happened about 4 p.m. Friday, at the start of a holiday long-weekend.

    As Many As 60 Hurt, One Seriously In Bus, Car Collision On Highway 1 In B.C.

    City Of Abbotsford Used Pepper Spray And Manure Tactics To Evict Homeless: Lawyer

    City Of Abbotsford Used Pepper Spray And Manure Tactics To Evict Homeless: Lawyer
    Pivot Legal Society lawyer David Wotherspoon told a B.C. Supreme Court judge that the homeless have been pepper sprayed by police and had chicken manure dumped on their campsite

    City Of Abbotsford Used Pepper Spray And Manure Tactics To Evict Homeless: Lawyer

    Nandini Jha, Mississauga Mom Convicted Of Killing Her 3-Year-Old Daughter Gets 10 Years In Jail

    Nandini Jha, Mississauga Mom Convicted Of Killing Her 3-Year-Old Daughter Gets 10 Years In Jail
    Crown lawyers alleged that Jha beat her daughter over many weeks, culminating in a final fatal attack.

    Nandini Jha, Mississauga Mom Convicted Of Killing Her 3-Year-Old Daughter Gets 10 Years In Jail

    Third Day Of Deliberations At Inquest Examining Deadly Blast In Burns Lake, B.C.

    Third Day Of Deliberations At Inquest Examining Deadly Blast In Burns Lake, B.C.
    Forty-five-year-old Robert Luggi and 42-year-old Carl Charlie died in the Jan. 20, 2012 blast that seriously injured 19 others and destroyed Babine Forest Products near Burns Lake

    Third Day Of Deliberations At Inquest Examining Deadly Blast In Burns Lake, B.C.

    Wife Of Dead Officer Says RCMP Made Her Husband 'Scapegoat' In Robert Dziekanski Death

    The wife of an RCMP officer who killed himself two years ago claims that her husband was used by the Mounties a scapegoat in the death of Robert Dziekanski at Vancouver's airport in October 2007.

    Wife Of Dead Officer Says RCMP Made Her Husband 'Scapegoat' In Robert Dziekanski Death