Telus Corp.'s second-quarter profit rose 10 per cent, fuelled by the addition of new wireless subscribers, the company said Friday.
Net income rose to $189.5-million, or 53 cents a share in the three months ended June 30, from $172.3-million, or 48 cents a share, in the year-earlier period.
Sales increased 8 per cent to $2-billion from $1.86-billion as gains in the wireless business helped mitigate a drop in local phone lines.
Excluding some items, profit of 55 cents topped the 49-cent average estimate of 9 analysts in a Thomson Financial survey.
Second-quarter results were not affected by a work stoppage that began on July 21. Workers represented by the Telecommunications Workers Union in Alberta and British Columbia walked off the job a day before the Vancouver-based company planned to unilaterally implement a new labour contract that employees had not voted on.
Wireless sales rose 19 per cent to $802-million as Telus Mobility added 131,100 new subscribers.
Telus Communications revenues rose 2 per cent to $1.2-billion as the division experienced the fourth straight quarter of revenue growth. However growth was offset by restructuring and emergency operations as well as increased competition from other services including cable firm Shaw Communications Inc.'s new phone service.
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