By Canadian Press

Telus Corp. reports Q2 net income up from year ago

Aug 2, 2024 | 7:59 AM

VANCOUVER — Telus Corp. says its net income attributable to common shares came in at $228 million in its second quarter, 14 per cent higher compared with the same time last year.

The telecommunications company says earnings per diluted share for the quarter ended June 30 was 15 cents compared with 14 cents a year earlier.

It reported adjusted net income was $366 million, up 34.1 per cent year-over-year from $273 million in the same quarter last year.

Operating revenue and other income for the quarter was $4.97 billion, up 0.6 per cent from the previous year.

Telus says it added 332,000 net new customers, up 13 per cent compared with last year, which included 101,000 mobile phone subscribers and 33,000 internet customers.

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Doug French, executive vice-president and chief financial officer, says despite the challenging competitive and macroeconomic environment, the company is executing on its strategic objectives, including significant cost-cutting programs.

This report by The Canadian Press was first published Aug. 2, 2024.

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The Canadian Press