Telus meets profit estimates despite fewer postpaid additions

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Reuters
Last Updated : Aug 03 2018 | 6:45 PM IST

(Reuters) - Canadian telecom company Telus Corp met analysts' quarterly profit estimates on Friday despite fewer postpaid subscriber additions, as users opted for costlier internet and data connections.

The company, among the biggest telecom providers in the country, said average monthly wireless bill rose to C$67.24 in the second quarter from C$66.87, helped by customers streaming more videos online.

The Vancouver-based company is engaged in a heated battle with BCE Inc, Rogers Communications Inc and Shaw Communications for wireless customers that has prompted carriers to spend heavily on marketing and customer promotions.

Telus added 87,000 postpaid wireless customers in the quarter ended June 30, compared with 99,000 a year earlier. BCE and Rogers saw those numbers rise in the quarter.

Telus said net income attributable to its shareholders rose marginally to C$390 million ($300 million).

Excluding items, the company earned 70 Canadian cents per share, in line with analysts' average estimates, according to Thomson Reuters I/B/E/S.

Operating revenue rose 5.3 percent to C$3.45 billion.

($1 = C$1.30)

(Reporting by Anirban Paul in Bengaluru; Editing by Maju Samuel)

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First Published: Aug 03 2018 | 6:44 PM IST

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