Close X
Friday, November 29, 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

    Gardens Sprout In London Community Mailbox Sites As Locals Oppose Canada Post

    Gardens Sprout In London Community Mailbox Sites As Locals Oppose Canada Post
    Miniature gardens are sprouting at certain locations in London, Ont., where Canada Post plans to install controversial community mailboxes.

    Gardens Sprout In London Community Mailbox Sites As Locals Oppose Canada Post

    'A Sour Result' As Canadian Economy Shrank In May, Fifth Consecutive Monthly Decline

    'A Sour Result' As Canadian Economy Shrank In May, Fifth Consecutive Monthly Decline
    OTTAWA — The Canadian economy contracted in May, the fifth consecutive monthly decrease, increasing the possibility the country slipped into a recession in the first half of the year.

    'A Sour Result' As Canadian Economy Shrank In May, Fifth Consecutive Monthly Decline

    B.C. Among Few Provinces Without Transgender Protections In Human Rights Code

    B.C. Among Few Provinces Without Transgender Protections In Human Rights Code
    VANCOUVER — When rainbow flags and noisy revellers fill Vancouver's Davie Street for the city's annual Pride Parade on Sunday, there's one political leader who will be conspicuously absent: Premier Christy Clark.

    B.C. Among Few Provinces Without Transgender Protections In Human Rights Code

    Crack Military Markswoman Sgt. Tatyana Danylyshyn Takes Top Honours At International Shooting Event

    Crack Military Markswoman Sgt. Tatyana Danylyshyn Takes Top Honours At International Shooting Event
    VANCOUVER — A Canadian Army reservist from Vancouver Island didn't miss as she put first place in the cross hairs at an international shooting competition in England.

    Crack Military Markswoman Sgt. Tatyana Danylyshyn Takes Top Honours At International Shooting Event

    WHO-Led Study Shows Canadian-Made Ebola Vaccine Protects Against Dreaded Disease

    A new study reported Friday that a vaccine designed by scientists working at Canada's National Microbiology Laboratory in Winnipeg induces a quick and highly protective response against the virus.

    WHO-Led Study Shows Canadian-Made Ebola Vaccine Protects Against Dreaded Disease

    Canada's Frustrating Dairy Hardball Could Slow Trans-Pacific Partnership Talks: New Zealand Envoy

    Canada's Frustrating Dairy Hardball Could Slow Trans-Pacific Partnership Talks: New Zealand Envoy
    Other parties around the bargaining table are growing exasperated with Canada for stonewalling their demands to pry open its dairy market as part of a major global free-trade deal.

    Canada's Frustrating Dairy Hardball Could Slow Trans-Pacific Partnership Talks: New Zealand Envoy