logo
Share SHARE
FONT-SIZE Plus   Neg

TELUS Posts Higher Q1 Profit - Quick Facts

TELUS Corp. (TU,T.TO, T_A.TO) posted first quarter net income of C$348 million versus C$328 million last year. Earnings per share were C$1.06, up from C$1.00 in the same quarter last year.

On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of C$1.04 per share. Analysts' estimates typically exclude special items.

Operating revenues were up to C$2.62 billion from C$2.51 billion in the prior-year quarter. Analysts expected revenues of C$2.65 billion.

The increase in revenue was generated by nearly six per cent growth in wireless revenue and two per cent growth in wireline revenue, both driven by strong data growth.

Darren Entwistle, TELUS President and CEO said, "TELUS continues to build upon our company's operational momentum as we delivered the most TV, high speed Internet and wireless client net additions, the highest wireless ARPU and the lowest wireless churn amongst our Canadian telco and cableco peer group. This led to strong results, with wireline data revenue growth of 13 per cent and wireless data revenue growth of 36 per cent. Consolidated financial results were driven by outstanding wireless revenue and margin enhancement...

..We continue to be relentless in identifying opportunities for appropriate cost reduction and based on the increased initiatives in the pipeline, we now expect 2012 restructuring expenses to double to $50 million from the previous estimate. Despite this change, the full year 2012 wireline profitability target range remains achievable and accordingly, we re-affirm our existing full year consolidated annual targets."

For the full year 2012, Telus still expects earnings in the range of C$3.75 to C$4.15 per share and consolidated revenue growth over 2011 of between 4 and 6.5 percent. Analysts expect the company to earn C$3.98 per share, on revenues of C$10.86 billion.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
AIG reported a plunge in second-quarter profit, hurt by a decline at its insurance business, debt-related losses and lower gains from the sale of investments. However, its earnings topped Street estimates, partly on contribution from aircraft leasing giant AerCap. AIG also announced a boost in dividend and said it would buyback an additional $5 billion stock. Automakers on Monday reported strong U.S. vehicle sales for the month of July, driven by continued demand for trucks and sport-utility vehicles amid an improving economy, lower gas prices and easy availability of credit. Detroit's Big Three - General Motors Co., Ford Motor Co. and FCA US, LLC - all reported vehicle sales above analyst expectations. British lender Lloyds Banking Group Plc. Friday reported higher profit in its first half, benefited by increased net interest income and margin as well as lower impairment. Looking ahead, the company lifted its net interest margin forecast.
comments powered by Disqus
RELATED NEWS
Trade TU now with 
Follow RTT