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

    Toddler Found Dead In Victoria Hotel Died Of Natural Causes: BC Coroners Service

    Toddler Found Dead In Victoria Hotel Died Of Natural Causes: BC Coroners Service
    The service says 18-month-old Saam Zohrevand — also known as Saam Darya — developed both a lung infection and bacterial meningitis.

    Toddler Found Dead In Victoria Hotel Died Of Natural Causes: BC Coroners Service

    Homeless In Abbotsford Not Responsible For Defecating In Parks: Lawyer

    Homeless In Abbotsford Not Responsible For Defecating In Parks: Lawyer
    The City of Abbotsford is wrong to blame the homeless for defecating in public spaces after dumping chicken manure at encampments in an effort to evict people, a lawyer has argued

    Homeless In Abbotsford Not Responsible For Defecating In Parks: Lawyer

    Russia's Arctic Claim To North Pole To Put Political Heat On Canada, Expert

    Russia's Arctic Claim To North Pole To Put Political Heat On Canada, Expert
    A defence expert says Russia's new bid for a vast swath of Arctic territory, including the North Pole, backs Canada into an uncomfortable corner in future negotiations over the frozen region.

    Russia's Arctic Claim To North Pole To Put Political Heat On Canada, Expert

    B.C. First Nation Makes Cash, Land Agreement In Steps Towards Treaty

    B.C. First Nation Makes Cash, Land Agreement In Steps Towards Treaty
    TERRACE, B.C. — The Kitselas First Nation has signed multimillion-dollar cash and land agreement-in-principle with the provincial government.

    B.C. First Nation Makes Cash, Land Agreement In Steps Towards Treaty

    Community Rallies To Save Beached Whales On Nova Scotia's Cape Breton Island

    Community Rallies To Save Beached Whales On Nova Scotia's Cape Breton Island
    A resident of a small community on Cape Breton's west coast says about 25 people rallied to try and save 16 beached pilot whales today after they became stuck on the rocky shores of St. George's Bay.

    Community Rallies To Save Beached Whales On Nova Scotia's Cape Breton Island

    Search Ends Tragically For Bryce Gray Missing In Northwestern B.C. Lake

    Search Ends Tragically For Bryce Gray Missing In Northwestern B.C. Lake
    The body of a teenager has been pulled from a lake in northwestern B.C., ending a nearly week-long search.

    Search Ends Tragically For Bryce Gray Missing In Northwestern B.C. Lake