Telus Lowers 2009 Forecast

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

Canada's BCE Slips Slightly

BCE, Canada's largest telecoms company, said that operating revenues in the first quarter decreased by 0.5% year-on-year to 3.62 billion Canadian dollars (3.1 billion US dollars) as growth in wireless, video, and data revenues were offset by declines in local and access, long distance, and equipment revenues.

Capital spending declined 6% year-on-year to 482 million Canadian dollars despite BCE's rollout of more fibre and its plans to launch HSPA services in 2010. source: BCE statement

Rogers Revs Up Revenues

In the first quarter of 2009, Rogers Communications of Canada generated 5% year-on-year growth in revenue to 2.75 billion Canadian dollars (2.29 billion US dollars) thanks to 8% growth in its wireless network revenues. Wireless data revenue growth accelerated to 43% year-on-year, while capital expenditure climbed 12% to 359 million Canadian dollars.

Rogers forecast that revenue will grow between 5% and 9% in 2009 over the 11.34 billion Canadian dollars it generated in 2008. source: Rogers presentation