14°c Light rain
13°c Rain
Winnipeg Free Press - PRINT EDITION
Telus posts 'exceptional' boost in profit for year
TELUS Corp. has capped what its CEO is calling an "exceptional year" with an almost 23 per cent increase in fourth-quarter profit, and it expects to meet its financial goals in 2013.
Net earnings were $291 million, or 89 cents per share, in the three months ending Dec. 31, Telus said Friday.
"Our company is positioned well to achieve our 2013 financial targets and continue to advance our national growth strategy," chief executive Darren Entwistle told analysts on a conference call.
"We firmly believe that Telus will continue to build on this extraordinary momentum in 2013 and beyond," he said.
Entwistle said he would update shareholders at Telus's annual meeting in May on its dividend and share buyback plans.
The Vancouver-based provider of wireless, Internet and television services and home-phone services said its profit was $237 million, or 76 cents per share, in the same quarter of 2011. Both periods included favourable tax-related adjustments of $10 million.
Earnings per share on an adjusted basis were 86 cents in the quarter, missing the average estimate of analysts compiled by Thomson Reuters by a penny per share.
Revenue rose to $2.85 billion from $2.69 billion.
In its wireless division, Telus had 123,000 net postpaid wireless customers, down 17 per cent from the same quarter in 2011.
Wireless revenues increased by $109 million or 7.7 per cent to more than $1.5 billion in the fourth quarter of 2012, compared to the same period a year ago.
Data revenue, which makes up 41 per cent of wireless network revenue, increased by $104 million or 22 per cent to $570 million.
The company added 41,000 new TV subscribers and 23,000 high-speed Internet customers, partially offset by losses of prepaid wireless customers, phone lines and dial-up Internet.
The company's wireless subscriber base of 7.7 million was up 4.5 per cent year over year, the Telus TV subscriber base of 678,000 was up 33 per cent and the number of high-speed Internet customers was up nearly seven per cent to 1.3 million.
-- The Canadian Press
Republished from the Winnipeg Free Press print edition February 16, 2013 B6
More Business
- Back to Top
- Return to Business
More Business
(1 of 50 articles for this week)
Price of oil falls below $96 per barrel as traders await data, Fed chief Bernanke's speech
12:29 AM 0BANGKOK - The price of oil fell Monday ahead of the release later this week of economic data from the ...
Poll
Most Popular Business
- 2 men arrested in killing of Las Vegas teen who refused to give up his iPad
- Chinese court sentences entrepreneur to death in latest crackdown on underground banking
- Ex-'Pegger seeks to grow local businesses
- Hundreds of tons of New Zealand meat stranded at Chinese ports over certification dispute
- Veteran newspaper editor Neil Reynolds dead at age 72
- Bangladesh High Court bars garment factory owner from leaving country
- Toronto, Wall Street surge higher amid positive U.S. data, consumer sentiment
- Buyer beware in online auto sales: experts
- Target opens Manitoba stores
- Bridging the gap
- Transcona transformation
- Mounties say crooks passing fake polymer bank notes in British Columbia
- Holiday pump jump debated
- Driving downtown development
- Winnipeg's got the REIT stuff
- McDonald's adding 3 new Quarter Pounders as it phases out third-pound Angus burgers
- 2 men arrested in killing of Las Vegas teen who refused to give up his iPad
- 3 Ford owners sue in federal court, saying EcoBoost engine is defective
- Emergency manager reveals Detroit is nearly broke; city may have no choice except bankruptcy
- Lakeview pumped about Hecla resort
- Target opens its first Manitoba stores Tuesday
- New structure to be king of downtown?
- Transcona transformation
- Target opens Manitoba stores
- Mounties say crooks passing fake polymer bank notes in British Columbia
- Raising the rent is a good sign
- City to get a touch of glass
- Canad Inns property has personal meaning for owner
- Holiday pump jump debated
- Border-fee idea doesn't fly
- Viterra plans $20 million capacity upgrade at four Saskatchewan grain terminals
- Ex-'Pegger seeks to grow local businesses
- Rent to own
- Transcona transformation
- Bridging the gap
- A fix for hockey sticks
- Condos made from shipping containers pass hurdle at city hall
- Monsanto wins Supreme Court fight over its genetically engineered soybeans
- Idaho spud giant bets on biotech potatoes 12 years after similar Monsanto push failed
- Investing lessons from the golf links
- Transcona transformation
- Winnipeg's got the REIT stuff
- CEO, execs terminated at TCIG
- Diversification spurs Exchange Income's growth
- Driving downtown development
- Late deal in workplace sex-harassment case
- There are lots of I's in 'team'
- Bridging the gap
- Ex-'Pegger seeks to grow local businesses
- Viterra plans $20 million capacity upgrade at four Saskatchewan grain terminals
- Transcona transformation
- New structure to be king of downtown?
- CEO, execs terminated at TCIG
- Target opens its first Manitoba stores Tuesday
- Canad Inns property has personal meaning for owner
- Winnipeg's got the REIT stuff
- Older and jobless? Resource on hand
- MacDon on the block?
- Winnipeg Boeing plant set to expand
- Local boy leads Great-West
Ads by Google
You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.
Have Your Say
New to commenting? Check out our Frequently Asked Questions.
The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.