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Telus: revenue up, profit not

Telus Corp. is reporting strong performance in its key wireless division during the second quarter, including customer additions and higher average revenue per user.

Wireless revenue was $1.85 billion, which included a 7.2 per cent increase in network revenue supported by the addition of 99,000 contract subscribers during the quarter.

In the wireline division, which includes high-speed Internet and television services, revenue was up 2.5 per cent at nearly $1.5 billion.

Overall revenue for the Vancouver-based telecommunications company was up 3.9 per cent to $3.27 billion, after eliminating internal revenue.

Net income was down 7.2 per cent at $386 million, including $379 million or 64 cents per share attributable to common shareholders, due to lower operating income, higher financing costs and unusual items.

Adjusted profit fell 2.7 per cent to $404 million, or 68 cents per share, after excluding items such as a 2016 gain from the sale of spectrum licences during the comparable period last year.



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