Citing the worsening economy, Telus of Canada cut its guidance for 2009, now projecting that revenues will grow between 0% and 3% to between 9.7 and 9.9 billion Canadian dollars (8.36 and 8.53 billion US dollars).
For the first quarter of 2009, Telus reported a 1% year-on-year rise in revenue to 2.38 billion Canadian dollars (2.05 billion US dollars), driven primarily by 3% growth in wireless revenue and 6% growth in wireline data revenue, more than offsetting the ongoing declines in local and long distance wireline voice revenues.
Telus increased capital expenditure by 48% to 474 million Canadian dollars in the first quarter to fund the build-out of wireless and wireline broadband. source: Telus statement
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