Telus Reports Drop in Q4 Profits, Growth in Revenues
By James Falconer on Friday, February 13th, 2009 at 9:42 AM PST In Telus
Canadian carrier Telus (NYSE: TU) posted their Q4 financial results today. In the end they reported a drop in earnings but growth in revenue. On the earnings front from Reuters:
Fourth-quarter earnings fell to C$285 million (US$231.7 million), or 89 Canadian cents a share, from C$400 million, or C$1.22 a share, a year earlier.
On the positive side, revenues did rise… by 5.3%:
Revenue rose 5.3 percent to C$2.45 billion on growth in wireless revenue. The company said more subscribers were picking up feature-rich smartphones, such as Research In Motion Ltd’s BlackBerry (NSDQ: RIMM), and using services like messaging and Facebook, which boosts data revenue.
It should be an interesting and tough 2009 for Telus and all Canadian carriers. New competitors are set to take the scene following government wireless spectrum auctions in 2008. Add to that a weakening Canadian economy and new beefed-up discount carriers from the ‘Big 3′… We’ll see what happens.
[Via: Reuters]
