Friday, July 31, 2020
10:19 AM EST – TELUS Corporation : Released its unaudited results for the second quarter of 2020. For the quarter, consolidated operating revenue of $3.7 billion increased by 3.6 per cent over the same period a year ago. Earnings before interest, income taxes, depreciation and amortization (EBITDA) decreased by 1.0 per cent to $1.4 billion while Adjusted EBITDA was down 2.9%. This decline reflects the financial impacts arising from the COVID-19 pandemic, primarily from lower wireless roaming revenue, partly offset by growth in wireline data service margins resulting from business acquisitions, expanded services and subscriber base growth, an increased EBITDA contribution from our organic TELUS International (TI) business, and numerous enhanced cost efficiency programs. TELUS Corporation (T.T) shares were down $0.13 at 23.23.