By Canadian Press

Telus Q1 profit drops to $353 million as acquisition-related items increase

May 7, 2020 | 5:31 AM

VANCOUVER — Telus Corp. reported its first-quarter profit fell 19 per cent from a year ago, as investments in its networks and an increase in acquisition-related accounting expenses more than offset growth in earnings from its business.

The Vancouver-based company says it earned $353 million or 28 cents per share for the quarter ended March 31, down from $437 million or 36 cents per share in last year’s first quarter.

Operating revenue rose by 5.4 per cent to $3.69 billion from nearly $3.51 billion.

Telus said its adjusted earnings for the quarter fell to 32 cents per share from 38 cents per share a year ago.

Analysts had estimated Telus would have 35 cents per share of adjusted earnings with nearly $3.68 billion of revenue, according to financial markets data firm Refinitiv.

Stay Ahead of the Curve with Kamloops' Trusted Property Manager - Rohit Kumar

May 20, 2025

Question of the Week

Are you practicing water conservation in your home and on your property?

10h ago

One Man's Opinion

COLLINS: Trump's stupidity is contagious

Jul 13, 2025

Telus says it’s maintaining its quarterly dividend at 29.125 cents per share, but withdrawing its financial guidance for 2020 because of uncertainty caused by the COVID-19 pandemic.

This report by The Canadian Press was first published May 7, 2020.

Companies in this story: (TSX:T)

The Canadian Press