Telus Q4 results were driven by an increase in wireless subscribers, and the amount of time they spend online on their phone.
Profits up 13 per cent driven by wireless-subscriber growth
Telus Corp. Canada’s second largest wireless carrier, reported an adjusted $301 million in net income in its fourth quarter 2013 results, released Thursday. Telus’ figures were buoyed by higher revenue, which grew 3 per cent to $2.95 billion. The
Operating revenues for the quarter rose 3.4 per cent to $2.95 billion, as Telus increased its wireless subscriber base to 7.8 million. The company’s wireless division brings in an average of $61.86, up a minute 1.6 per cent from the same period in 2012.
The company altogether added just over half a million new wireless, TV and Internet subscribers through the course of 2013. Revenue from landline subscribers, still a significant contributor to Telus’ bottom line, also increased by 2.4 per cent to $2.95 billion.
In a statement, Telus CEO and president Darren Entwistle laid out what was behind growth in 2013: the company’s broadband strategy. The telco provider has been aggressive in its efforts to expand LTE network coverage in B.C., investing $3 billion in a multiyear commitment to updating its technology and infrastructure. Data now accounts for 45 per cent of Telus’ wireless network revenue, with revenues up 39 per cent since 2009.
