Shares of Telus Corp (TSX: TU) (NYSE: TU) surged 8.7% in pre-market trading on Wednesday after the Canadian telecommunications giant reported better-than-expected financial results for the third quarter of 2024 and maintained its strong outlook for the full year.
For the three months ended September 30, 2024, Telus posted adjusted earnings per share of C$0.28, comfortably surpassing the consensus estimate of C$0.23. Total operating revenues and other income climbed 2.8% year-over-year to C$5.099 billion, also exceeding analysts' expectations of C$5.050 billion.
The company's TTech segment, which includes its core mobile and fixed-line businesses as well as services in the health and agriculture sectors, saw operating revenues and other income increase by 2.7% to C$4.424 billion. Telus cited growth in mobile equipment and other service revenues, fixed data services, and its health and agriculture divisions as key drivers of the segment's performance.
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