BUSINESS

Telus Profits From Rise Of Data Usage On Smartphones During First Quarter

05/07/2015 11:20 EDT | Updated 05/07/2016 05:59 EDT
VANCOUVER - Telus Corp. (TSX:T) says customers are using more data on their smartphones which helped push revenues higher in the first quarter.

The telecommunications company posted a 10-per cent jump in profits during the period, driven by growth in both its wireless and landline business.

Net income rose to $415 million, or 68 cents per share, which compared to $377 million, or 61 cents per share in the same period last year.

Operating income moved up by 4.6 per cent to $2.9 billion.

In the wireless division, the company's operating revenues increased 7.5 per cent to $1.69 billion.

Part of that growth came from wireless network revenues, which got a boost from subscribers spending more time using apps and other data-heavy features of their smartphones. The results were also boosted by more people signing up for new two-year wireless contracts, which charge higher monthly rates.

Telus declared a quarterly dividend of 42 cents per share payable July 2.

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