TELUS Reports Growth in Revenue Despite Profit Loss

It’s been a great start to the year for telecommunications giant TELUS, as their operating revenue grew 5.1 per cent to $3.1 billion in the second quarter of 2015, despite a hefty profit loss.

“Our strong second quarter results demonstrate the significant benefits of the TELUS team’s unwavering focus of putting customers first, each and every day,” said Darren Entwistle, Executive Chair. “Through our long-term and consistent approach to investing in core broadband technology and meaningful customer service and employee engagement initiatives, our team has delivered strong financial performance and unmatched customer loyalty, as illustrated by two consecutive years of wireless postpaid customer churn below one per cent.”

Investors are reaping the rewards, with a $1.1 billion return in the first seven months of 2015.

TELUS President and CEO Joe Natale attributes the company’s strong economic growth to their customer service skills.

“The TELUS team’s relentless focus on putting customers first has translated into industry-leading loyalty and retention that continues to underpin our solid financial performance. Through years of a company-wide commitment to genuinely earn customer loyalty, we continue to gain the trust of our customers as exemplified by this quarter’s North American-leading customer loyalty measure of a 0.86 per cent monthly postpaid wireless churn rate.”

Although operating revenues are up, net income for the company has witnessed a 10.5 per cent decline. Moreover, basic earnings per share has also declined 9.7 per cent.

Back in 2009, TELUS announced the acquisition of Black’s Photo Corporation. For several years, TELUS products and services were available in 113 store locations across the country. However, in June, the company announced the closure of nearly 60 store locations.