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Earnings: TELUS Reports Q2 2011 Earnings, Sees 6.4% Increase In Revenue

TELUS just reported second quarter 2011 revenue of $2.55 billion, an increase of 6.4 per cent over the same period last year. Over all this represents almost a 10 per cent growth in wireless revenue and three per cent growth in wireline revenue, both driven by strong data growth.

CEO Darren Entwistle commented saying, “Similarly, TELUS’ broadband wireline business exhibited continued strong operational performance with data revenue expanding by 14 per cent this quarter. This growth is supported by solid TELUS TV and high speed Internet customer additions of 59,000 on a combined basis, up 84 per cent year over year. Importantly, TELUS’ TV client base surpassed 400,000 customers this quarter while our voice business yielded the lowest level of consumer line losses in five years.”

TELUS Q2 2011 Highlights:

  • External wireless revenues increased by $117 million or 9.6 per cent to $1.33 billion in the second quarter of 2011, compared to the same period a year ago, driven by a 5.9 per cent increase in the subscriber base and higher average revenue per customer
  • Data revenue growth continued to accelerate, increasing by $132 million or 49 per cent to $402 million this quarter
    Wireless net additions of 94,000 included 92,000 postpaid customers. Net additions declined by 24 per cent from a year ago, reflecting the loss of a federal service contract to a competitor – responsible for approximately 32,000 postpaid subscriber net deactivations in the quarter
  • Smartphones represented 61 per cent of postpaid gross additions in the second quarter, as compared to 30 per cent last year. Smartphone subscribers now represent 42 per cent of the total postpaid subscriber base as compared to 25 per cent a year ago
  • External wireline revenues increased by $37 million or 3.1 per cent to $1.22 billion in second quarter of 2011, when compared with the same period a year ago, driven by growth in data and equipment revenues, partially offset by continued declines in local and long-distance revenues
  • Data service and equipment revenues increased by $78 million or 14 per cent, reflecting growth in Internet and enhanced data services, strong TELUS TV subscriber growth, increased data equipment sales, and newly consolidated managed workplace revenues
  • TELUS TV additions of 46,000 increased by 59 per cent over same period last year, due to the success of Optik TV brand, increased installation capabilities, enhanced features and expanded service coverage. TELUS TV subscriber base of 403,000 is up 77 per cent from a year ago
  • Optik High Speed Internet net additions of 13,000 increased by 10,000 from a year ago due to the pull through effect of Optik TV sales, as well as continued broadband service expansion


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