VANCOUVER — Telus Corp. (TSX:T) says its net profit, adjusted earnings and revenue were up from the same time last year as it attracted more customers to its wireless division as well as its residential Internet and Optik TV services.
At the end of the quarter, Telus had 12.49 million subscriber connections to all services, up from 12.34 million a year earlier. Declines in home landline phone customers and satellite TV offset some of the gains elsewhere.
The Vancouver-based company's net income was $416 million — up 22 per cent from $341 million a year ago when Telus recorded a number of unusual items that reduced its net income.
After excluding certain items such as the impact of closing the Blacks retail stores last year, adjusted earnings were up 2.2 per cent, rising to $415 million from $406 million.
This year's second-quarter profit amounted to 70 cents per Telus share, both before and after adjustments. Last year's profit was 56 cents per share in net income and 66 cents per share in adjusted earnings.
Revenue advanced 1.5 per cent or $46 million to nearly $3.15 billion from $3.10 billion in the second quarter of 2015.
Analysts had estimated 69 cents per share of profit and $3.19 billion in revenue, according to Thomson Reuters data.
