Telus reports fourth-quarter profit down from year ago, revenue up

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VANCOUVER — Telus Corp. reported its fourth-quarter profit fell compared with a year ago as its revenue climbed higher.

The company says its net income attributable to common shares totalled $248 million or 17 cents per share for the quarter ended Dec. 31, down from $644 million or 47 cents per share a year earlier.

Operating revenue and other revenue for the quarter totalled $5.1 billion, up from $4.9 billion in the last three months of 2021.

On an adjusted basis, Telus says it earned 23 cents per share in its fourth quarter, the same as a year earlier.

Analysts on average had expected a profit of 28 cents per share, according to estimates compiled by financial markets data firm Refinitiv.

In its outlook for 2023, Telus says it expects operating revenue to grow 11 to 14 per cent.

This report by The Canadian Press was first published Feb. 9, 2023.

Companies in this story: (TSX:T)

The Canadian Press

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