Telus Corp. (TSX:T) has reported fourth quarter 2011 revenue of $2.7 billion, an increase of more than 5% over the same period last year.
The company said the increase was generated by a 6.5% rise in wireless revenue and a 4% growth in wireline revenue, both driven by strong data growth.
Telus added 148,000 wireless customers in the fourth quarter as smartphone adoption continued to accelerate, pushing wireless data revenue up by 43%.
Telus' results were further bolstered with its new TV offering surpassing the half a million subscriber mark. The company added 56,000 TV customers to bring its total subscriber base to 509,000.
When combined with attracting 24,000 new high-speed Internet subscribers in the quarter, the Optik TV additions helped drive wireline data revenue growth of 15%.
Net income and earnings per share for the fourth quarter were $237 million and $0.76, representing year-over-year increases of 5% and almost 9%, respectively.
Robert McFarlane, Telus executive vice-president and CFO, said that Telus' 2011 annual revenue and EBITDA had increased by 6% and nearly 4%, respectively.
"These results were generated by our strong growth in both wireless and wireline data revenues. The revenue and earnings reported today are consistent with our latest guidance issued in December. Notably, we met seven of the eight 2011 annual targets we initially set out more than a year ago."
The strong results come on the day Telus launches its high-speed LTE network in Vancouver and other major Canadian cities.
