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Telus Reports 5% Increase in Fourth-Quarter Revenue


14/02/2009

Canadian telecommunications giant, Telus Corp., has reported a 5% increase in fourth-quarter revenue, due to ongoing growth in its wireless and data businesses.

The company’s profits came in at $285 million (or $0.90/share), down from $400.1 million in the last three months of 2007. Operating income increased, however, if you take into account a one-time $143 million tax gain in the 2007 quarter.

Telus’ quarterly revenue, which came in at $2.45 billion, continued to be fueled by the company’s mobile phone division, which added a net total of 148,000 subscribers in Q4. This figure was down 9% from the final quarter of 2007, in which 161,400 new wireless customers were added. More and more customers are buying high-end smartphones and making use of mobile data services, however, which has had the effect of padding wireless profit margins.

“These results are consistent with our most recent annual guidance for 2008,” commented Telus CHO, Robert McFarlane. “Telus is entering 2009 with enviable financial strength and balance sheet flexibility, supported by long-standing, prudent financial policies and strong investment grade ratings.”



 

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