Close X
Tuesday, November 5, 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

    Activists Squealing About Quebec Pig Contest, Say It Abuses Animals

    Activists Squealing About Quebec Pig Contest, Say It Abuses Animals
    Animal-rights groups are squealing about an annual contest in a small Quebec town that features participants trying to grab greased pigs

    Activists Squealing About Quebec Pig Contest, Say It Abuses Animals

    Globe-Trotting HitchBot Returning To Canada For Possible Rebuild

    Globe-Trotting HitchBot Returning To Canada For Possible Rebuild
    The hitchhiking robot that became a social media darling as it documented its travels throughout the world likely hasn't taken its last ride, its co-creators said Wednesday.

    Globe-Trotting HitchBot Returning To Canada For Possible Rebuild

    MADD P.E.I. Chapter President Resigns After Impaired Driving Charges

    MADD P.E.I. Chapter President Resigns After Impaired Driving Charges
    The president of a Prince Edward Island chapter of Mothers Against Drunk Driving Canada has resigned after being charged with impaired driving, the organization's CEO said Wednesday.

    MADD P.E.I. Chapter President Resigns After Impaired Driving Charges

    Surrey Youth Soccer Club Suspended Over Allegations Of Financial Irregularities

    Surrey Youth Soccer Club Suspended Over Allegations Of Financial Irregularities
    Outgoing club head Garry Sangha says the move boils down to other clubs vying for access to the area's up-and-coming players and their registration dollars.

    Surrey Youth Soccer Club Suspended Over Allegations Of Financial Irregularities

    Police Say Suspects May Have Been Burned While Setting Surrey House On Fire

    Police Say Suspects May Have Been Burned While Setting Surrey House On Fire
    Police believe there's a connection between a house fire and a vehicle blaze half a block away in a Surrey, B.C., neighbourhood

    Police Say Suspects May Have Been Burned While Setting Surrey House On Fire

    Lilly Singh AKA Superwoman Nominated For 2015 Teen Choice Awards

    Lilly Singh AKA Superwoman Nominated For 2015 Teen Choice Awards
    Indian-Canadian comedienne Lilly Singh has earned a nomination in the "2015 Teen Choice Awards" to be held in Los Angeles on August 16, a media report said.

    Lilly Singh AKA Superwoman Nominated For 2015 Teen Choice Awards