By Canadian Press

Telus reports fourth-quarter profit down from year ago, revenue crept higher

Feb 11, 2021 | 5:31 AM

VANCOUVER — Telus Corp. reported its fourth-quarter profit fell compared with a year earlier as its revenue edged higher.

The telecommunications company says its net income attributable to common shares totalled $260 million or 20 cents per share for the quarter ended Dec. 31, down from $368 million or 30 cents per share a year earlier.

Operating revenues and other income totalled $4.06 billion, up from $3.86 billion.

In the quarter, the company said it added 253,000 new customers including 87,000 mobile phones, 88,000 mobile connected devices, in addition to 44,000 internet, 20,000 TV and 23,000 security customers. The gains were partly offset by the loss of 9,000 residential voice customers.

On an adjusted basis, Telus says it earned 22 cents per share in the quarter, down from an adjusted profit of 32 cents per share in the same quarter a year earlier.

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Analysts on average had expected an adjusted profit of 25 cents per share, according to financial data firm Refinitiv.

This report by The Canadian Press was first published Feb. 11, 2021.

Companies in this story: (TSX:T)

The Canadian Press