VANCOUVER – Telus (TSX:T) says fourth-quarter profits increased 4.9 per cent as it signed up more subscribers to its TV services, but fell short of overall analyst expectations.
The Vancouver-based telecommunications company reported that net income was $ 237 million, an increase from $ 226 million in the same three month period a year earlier.
On an earnings per share basis, the results were equal to 76 cents per share — below average analyst expectations of 78 cents per share, according to a poll by Thomson Reuters — but above 70 cents per share earned a year ago.
“Telus’ fourth quarter and full year 2011 results reflect the success of our strategy of investing in our broadband technology and client experience across our wireless, TV and high-speed Internet services,” said president and CEO Darren Entwistle in a release.
For the quarter, Telus said it added 148,000 postpaid subscribers in the period, which helped boost wireless data revenue by 43 per cent.
In its TV operations, the company added 56,000 subscribers.
Revenue increased 5.3 per cent to $ 2.69 billion from $ 2.55 billion.
Local news from metronews.ca/vancouver
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