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UPDATE 1-Canada's Telus posts higher-than-expected profit

Published 2016-08-05, 06:48 a/m
© Reuters.  UPDATE 1-Canada's Telus posts higher-than-expected profit
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(Compares results with estimates, adds Q2 details)

Aug 5 (Reuters) - Telus Corp T.TO TU.N , one of Canada's three biggest telecom providers, reported a higher-than-expected quarterly profit, helped by lower operating expenses.

Vancouver-based Telus also raised the low end of its full-year consolidated revenue forecast to C$12.78 billion ($9.82 billion) from C$12.75 billion. It maintained the high end at C$12.88 billion.

The company raised its consolidated capital expenditure forecast to C$2.85 billion from C$2.65 billion as it plans to spend more on broadband infrastructure.

Telus said operating expenses in the quarter ended June 30 fell 1.1 percent to C$2.46 billion.

The company's restructuring and other costs fell 61 percent, while its income tax dropped nearly 16 percent.

Telus added 61,000 postpaid wireless customers on a net basis, lower than the 76,000 it added a year earlier.

In the quarter, Telus' rival Rogers Communications Inc RCIb.TO added 65,000 such customers and BCE Inc BCE.TO signed up 69,848 subscribers.

Telus also competes with Shaw Communications Inc SJRb.TO for landline internet, television and telephone subscribers in Western Canada.

Net income of Telus rose to C$416 million, or 70 Canadian cents per share, in the second quarter from C$341 million, or 56 Canadian cents per share, a year earlier. on average had expected earnings of 69 Canadian cents per share, according to Thomson Reuters I/B/E/S.

Telus's operating revenue rose to C$3.15 billion from C$3.10 billion. Analysts on average had expected C$3.20 billion. ($1 = 1.30 Canadian dollars)

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