08/07/2015 01:55 EDT | Updated 08/07/2016 05:59 EDT

Telus Q2 Profit Down From Black's Closure, Operating Revenue Up

George Rose via Getty Images
TORONTO, CANADA - JUNE 28: The exterior of the Telus building next to the Air Canada Centre is viewed on June 28, 2014 in Toronto, Ontario, Canada. Canada's most populous city is undergoing a major economic boom with high-rise construction and renovation projects underway throughout the downtown and outlying neighborhoods. (Photo by George Rose/Getty Images)

VANCOUVER — Telus Corp. (TSX:T) is reporting a 10.5 per cent decline in net income for the second quarter, which it says included costs related to the closure of the Black's retail chain of photography stores.

The Vancouver-based telecom giant had $341 million of net income, or 56 cents per share, in the quarter.

Its adjusted net income, which excludes restructuring and other items, was $406 million or 66 cents per share. Operating revenue was up 5.1 per cent, at $3.1 billion.


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