Cable & Telecom

Growth in wireless, wireline sales drives Telus Q1 net profit up 13.5%

VANCOUVER – Telus announced a second consecutive quarter of net profit growth of $362 million, an increase of 13.5% over the same quarter in 2012. First quarter revenue increased by 4.8% to $2.76 billion, compared to the same period a year earlier, driven by increased revenue in the company’s wireless, high-speed internet and Optik TV businesses. Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) also increased by 5.4% to $1.03 billion, resulting in a corresponding jump in earnings per share of 14% to $0.56, which reflects the company's mid-April two-for-one stock split. Telus reported a 6.4% growth in wireless...