Telus doubled its fourth quarter profit from the same period a year earlier thanks to the sale of its financial solutions business.
Posted at 10:58 a.m.
The Vancouver company announced in December the sale of these activities to Dye & Durham for 500 million.
The telecommunications giant on Thursday posted net income attributable to shareholders of 644 million or 47 cents per share, for the quarter ended Dec. 31, which compares with a profit of 260 million, or 20 cents per share, for the same period a year earlier.
Operating and other income, which includes proceeds from the sale of the financial solutions business, totaled $4.87 billion in the quarter. In comparison, this turnover had been 4.06 billion in the fourth quarter of 2020.
On an adjusted basis, Telus earned 23 cents per share, up from 22 cents in the prior fourth quarter.
Analysts on average had expected an adjusted profit of 26 cents per share for the most recent quarter, according to forecasts compiled by financial data firm Refinitiv.