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

    Two Dead, Three Wounded In Toronto's Muzik Nightclub Shooting

    Two Dead, Three Wounded In Toronto's Muzik Nightclub Shooting
    Two people are dead and three others are in hospital following an overnight shooting that began inside a packed Toronto nightclub that was hosting the official after-party of rapper Drake's annual OVO Fest.

    Two Dead, Three Wounded In Toronto's Muzik Nightclub Shooting

    Firefighters, Hydro Crews Team Up To Rescue Injured Skydiver Near Vernon

    Firefighters, Hydro Crews Team Up To Rescue Injured Skydiver Near Vernon
    VERNON, B.C. — A skydiver is OK after dangling unconscious from power lines for more than 30 minutes near Vernon, B.C.

    Firefighters, Hydro Crews Team Up To Rescue Injured Skydiver Near Vernon

    PM Harper Unveils Big-Budget Campaign Promise: $1.5 Billion Home Renovation Tax Credit

    PM Harper Unveils Big-Budget Campaign Promise: $1.5 Billion Home Renovation Tax Credit
    PM has delivered the first big-budget promise of the Conservative election campaign: a permanent home-renovation tax credit that will cost taxpayers $1.5 billion a year once implemented

    PM Harper Unveils Big-Budget Campaign Promise: $1.5 Billion Home Renovation Tax Credit

    Saanich Police Cruiser Slams Into Vehicle To End Early-Morning Chase

    Saanich Police Cruiser Slams Into Vehicle To End Early-Morning Chase
    A section of a busy Vancouver Island highway connecting Victoria and Swartz Bay was closed for hours on Tuesday morning when Saanich police brought a vehicle pursuit to a crashing end.

    Saanich Police Cruiser Slams Into Vehicle To End Early-Morning Chase

    Mining Industry Still Horrified By Mount Polley Tailings Pond Collapse: Bennett

    Bill Bennett says no one thought a disaster on such a scale was possible but, even today, he can't guarantee the collapse of another tailings pond won't happen again.

    Mining Industry Still Horrified By Mount Polley Tailings Pond Collapse: Bennett

    Lawyer Says Homeless In Abbotsford Not Responsible For Plight

    Lawyer Says Homeless In Abbotsford Not Responsible For Plight
    NEW WESTMINSTER, B.C. — A lawyer arguing that the rights of homeless people are being violated in Abbotsford, B.C., says the city is blaming victims of the system.

    Lawyer Says Homeless In Abbotsford Not Responsible For Plight