News

Telus posts 1Q profit, results miss Street expectations

BURNABY, B.C. – BURNABY, British Columbia (AP) _ Telus Corp. (TU) on Thursday reported first-quarter profit of $275.5 million.

The Burnaby, British Columbia-based company said it had profit of 47 cents per share. Earnings, adjusted for restructuring costs, were 51 cents per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.

The telecommunications company posted revenue of $2.27 billion in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $2.42 billion.

Telus shares have climbed 12 per cent since the beginning of the year. The stock has declined 11 per cent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TU at http://www.zacks.com/ap/TU

_____

Keywords: Telus, Earnings Report