Western Canada's largest telecommunications firm, Telus Corp., (TSX:T; NYSE:TU) reported a 6% increase in its quarterly revenue for its first quarter ending March 31, 2007, but saw its profit fall 7.3%.
Revenue rose to $2.2 billion on the strength of strong sales in the company's wireless and high-speed data services. Wireless services revenue grew 13% in the quarter; revenue from Telus' data services grew by almost 11%.
Gains in both segments offset drops of 10% and 2.9%, respectively, in long-distance and residential phone service revenue.
Telus' quarterly profit fell to $194.8 million from $210.1 million in the same period in 2006, mainly due to a one-time charge of $173.5 million related to changes to the company's employee share options granted before 2005.
Telus' share price range during the past week: between $60.94 and $64.40; 52-week high: $65.60; 52-week low: $43.52.