Telus posts impressive quarterly results

e14news — Thu, 07 Oct 2021 09:14:56 GMT

Current Revision posted to Documents by e14news on 10/7/2021 9:14:56 AM
Wireless communications firm Telus has posted impressive quarterly results as soaring smartphone demand fuelled strong subscriber growth, the Calgary Herald has reported.

According to the firm, it added 52,000 new postpaid wireless subscribers in the first quarter.

In doing so, it topped the expectations of most analysts and helped revenue increase by nearly seven per cent.

"They're doing really well. I challenge you to find another incumbent telco that's recording seven per cent revenue growth," Canaccord Genuity analyst Dvai Ghose said.

"Despite generating superb subscriber growth in wireless and wireline, they managed to generate very good margins," he added.

Telus also confirmed that it added 44,000 TV customers and 16,000 high-speed Internet subscribers in the quarter.

In other news, Softbank Corp, a leading Japanese mobile phone operator, has revealed its operating profits jumped 35.1 per cent for the year that ended in March.

The firm acknowledged that its profits were boosted by higher sales of smartphones, Reuters has reported.

Softbank booked an operating profit of 629.2 billion yen in its last business year.