Telus Meets Quarterly Profit Estimates Despite Fewer New Postpaid Subscribers
Despite fewer new postpaid subscribers, Telus Corp has been able to meet analysts’ profit estimates for the quarter ended June 30.
According to CNBC News, the Vancouver-based telecom giant added 87,000 postpaid wireless customers in the previous quarter as compared to 99,000 in the same quarter a year prior.
The company 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.
Telus Corp 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 revealed that its net income attributable to its shareholders rose marginally to CAD $390 million. Excluding items, the company earned 70 cents per share in line with analysts’ average estimates. Meanwhile, its operating revenue rose 5.3% to CAD $3.45 billion.
In comparison, both BCE and Rogers saw their number of postpaid wireless customers rise during the quarter.