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
Alteryx, Inc., a provider of self-service data analytics software, is the latest tech company to go public in March. Alteryx said it has priced its IPO of 9 million shares of its Class A common stock at $14 per share, at the top end of its range of $12 to $14 per share. Dunkin' Donuts is bidding adieu to one of its frozen coffee beverages this summer. However, loyal fans of the decades-old menu staple have not taken kindly to the news. The coffee chain said it will discontinue its popular Coffee Coolatta beverage this summer and instead, introduce the new Frozen Dunkin' Coffee, made with coffee extract, sugar and milk. Canadian pipeline operator Enbridge Inc. said it will cut about 1,000 jobs, or six percent of its workforce, following the completion of its acquisition of Houston-based Spectra Energy Corp. The job cuts will take place across the merged company.
comments powered by Disqus
Follow RTT