Telus Reports 15.5% Rise In Q2 Net Income

Telecommunications company Telus reported that its net income climbed 15.5% to $335 million in the second quarter from $290 million a year earlier.

The Vancouver-based company said it added 223,000 new customers in the quarter, up 82,000 from last year. The new additions included 89,000 mobile phone subscribers, as well as 84,000 new connected device and 30,000 new internet customers.

Earnings per share (EPS) equalled $0.25 for the three months ended June 30, two cents per share better than the second quarter of 2020. Telus' adjusted profits reached $348 million or $0.26 per share, compared with $316 million or $0.25 per share in the prior year quarter.

The company’s revenues increased 10.3% to $4.1 billion, from $3.7 billion, driven by an increase in customer, mobile phone and fixed customer net additions.

Telus was expected to report $0.26 per share in adjusted profits on $4.08 billion of revenues, according to Refinitiv data.