Wednesday, November 26th0.0°C
22246
24058

Telus dials in profit

Telus Corp. (TSX:T) reported a higher first-quarter profit of $377 million, driven by growth in wireless, TV and Internet services.

That amounted to 61 cents per share, up four per cent from $366 million, or 56 cents per share, a year ago.

Revenue was up five per cent to $2.9 billion compared with $2.75 billion in the same quarter of 2013.

The telecommunications company also raised its quarterly dividend by two cents to 38 cents per share.

Analysts' estimates for revenue were $2.87 billion on net earnings per share of 61 cents, according to data compiled by Thomson Reuters.

Telus said it added 48,000 net postpaid subscribers, usually smartphone customers on two-year contracts, in the quarter, down 18.6 per cent from 59,000 in the same quarter last year.

Wireless network revenues increased by 5.3 per cent to $1.44 billion in the first quarter of 2014, compared to the same period a year ago.

Revenues in its wireline division, which includes TV, Internet and phone services, increased 4.4 per cent to $1.34 billion year-over-year.

Telus said net TV subscribers of 27,000 were lower by 7,000 from the same quarter last year. The total TV subscriber base of 842,000 increased by 130,000 or 18 per cent from a year ago.

High-speed Internet net additions of 21,000 increased by 5,000 over the same quarter a year ago. The high-speed subscriber base of 1.4 million is up 74,000 or 5.5 per cent from a year ago.

"Telus delivered strong revenue and profitable growth in the first quarter driven once again by strong results from both our wireless and wireline operations," chief executive Darren Entwistle said in a news release on Thursday.

Entwistle is stepping down as chief executive of Telus on Thursday when the company holds its shareholder meeting in Vancouver.

He will be replaced by chief commercial officer Joe Natale.

The Canadian Press

COMMENTS WELCOME

Comments on this story are pre-moderated and approval times may vary. Before they appear, comments are reviewed by moderators to ensure they meet our submission guidelines. Keep it clean, keep it civil, keep it truthful, stay on topic and be responsible. Comments are open and welcome for three days after the story is published. We reserve the right to close comments before then. Comments that appear on the site are not the opinion of Castanet, but only of the comment writer.



Read more Business News

23511


Recent Trending




Today's Market
S&P TSX15026.97-46.681
S&P CDNX775.83-4.81
DJIA17811.16-3.78
Nasdaq4773.499+15.247
S&P 5002068.86+1.83
CDN Dollar0.8897+0.0013
Gold1197.50+0.40
Oil73.74-0.35
Lumber327.10-2.40
Natural Gas4.295+0.144

 
Okanagan Companies
Pacific Safety0.155-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.34+0.02
Cantex0.045+0.005
Anavex Life Sciences0.1750.00
Metalex Ventures0.030.00
Russel Metals32.02-0.12
Copper Mountain Mining2.17+0.02
Colorado Resources0.125-0.005
ReliaBrand Inc0.0134-0.0001
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.32-0.005

 
23744


22970

FEATURED Property
2128958303 Whitman Road #404
2 bedrooms 2 baths
$244,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


The last great Canadian tax shelter

A guide to how flow-through fund limited partnerships can mightily aid your tax planning!The end of the year will raise concerns among many professionals, self-employed persons, business owners and ev...


What I learned in China: Part 2

As per my previous article on my visit to China, we have much to learn about and from their people. It is potentially the largest market on earth with 1.3 billion people in one country but much will d...


Retirement: Health Issues

Our health is really our greatest asset and maintaining our health is of tremendous importance. You want to do what you can to ensure that health issues will not jeopardize the enjoyment of your retir...

_



24185

24185


Member of BC Press Council


22707