07:11 AM EDT, 08/02/2024 (MT Newswires) -- Telus (T.TO) reported higher adjusted profit for the second quarter as revenue rose slightly.
The telecoms provider said adjusted profit increased 34% to $366 million, or $0.25 per basic share, from $273 million, or $0.19 per basic share. The result topped the consensus analyst estimate of $0.22 per share, according to Capital IQ.
Operating revenue and other income rose 0.6% to $4.97 billion, driven by higher service revenue in technology solutions (TTech), offset by lower service revenue in TELUS digital experience.
There were 332,000 net customer additions during the second quarter, up 39,000 over the same period last year.
The company also said full year 2024 TTech operating revenue is likely to be at the lower end of its original target growth range of 2% to 4%.
"Despite...industry pressures, we remain confident in our commitment to driving strong, sustainable and margin accretive growth," said Doug French, chief financial officer.
The board approved a quarterly dividend of $0.3891 to be paid on September 10.