Earlier today, Telus reported for 2018Q1 a 2.4 per cent drop in first-quarter profit as a result of higher operating expenses. Expenses surged 8.2 per cent to $2.11 billion. In spite of lower profits, the company raised its quarterly payment to shareholders to 52.5 cents per share, up from 49.25 cents per share.
Telus added 48,000 wireless postpaid customers in the quarter, up 4,000 from a year ago. Wireless customers on average paid $66.51 a month on Telus’ network, up 1.5 per cent from a year earlier.
“TELUS’ first quarter results reflect strong operational and financial performance, including healthy revenue and EBITDA expansion across both our wireless and wireline product portfolios in concert with robust customer growth”, said Darren Entwistle, President and CEO. “Our team achieved an important milestone in the first quarter as we surpassed 50 per cent coverage of our Optik footprint with our broadband network build program. This ongoing expansion will enable more customers to access our leading fibre technology while supporting the continued sustainable growth of our wireline and wireless services, including the advent of 5G.”
Telus’s net income fell to $412 million, or 69 cents per share, in the quarter ended March 31, from $422 million, or 70 cents per share, a year earlier.
Operating revenue rose to $3.38 billion from $3.18 billion.
To see the Telus press release: https://www.telus.com/en/about/news-and-events/media-releases/telus-reports-strong-results-for-first-quarter-2018