Telus Reports a Double-Digit Increase in Profits

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.