Telus 1Q Net Up on Revenue Increase; Year-Earlier Includes Loss
Telus Corp.'s first-quarter earnings rose on a 10%increase in wireless revenue and 19% increase in wireline data revenue, though the year-earlier quarter's earnings were also depressed by a C$173.5 million net-cash settlement feature expense.
Excluding the expense, earnings actually decreased 4% in the latest quarter and earnings per share were unchanged.
The Vancouver telecommunications company earned C$291 million or 90 Canadian cents a share in the latest quarter compared with C$194.8 million or 57 Canadian cents a year earlier.
The Thomson Reuters earnings estimate for Telus's first quarter was 88 Canadian cents a share.
Revenue rose to C$2.35 billion from C$2.21 billion, "driven by strong data growth in both the wireless and wireline business segments." Net subscriber additions were 88,400, representing a 2.3% decrease from the same quarter in 2007.
-Tara Zachariah; 416-306-2100; AskNewswires@dowjones.com
(END) Dow Jones Newswires
Posted to the site on 8th May 2008
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