Cable & Telecom

Profits dip 2.4% in “strong” Q1 at Telus

VANCOUVER – Higher operating expenses cut in to first quarter profits at Telus, the company said Thursday.For the period ended March 31, operating expenses before depreciation and amortization jumped 8.2% to $2.11 billion compared to $1.95 billion year-over-year.Telus said that net income of $412 million was 2.4% lower than the $422 million posted in the same period a year ago due to a $30 million increase to restructuring and other costs driven by efficiency initiatives, increased financing costs, as well as higher income taxes reflecting an increase to the B.C. corporate income tax rate.Consolidated operating revenue increased by 6% to...