Telus sees 98% IPTV sub growth in 2Q, tops 228,000

Canadian telco Telus edged over a quarter-million IPTV customers after adding 29,000 TV subscribers in the second quarter to its Optik TV offering.

In its 2Q earnings report the Vancouver-based telecommunications company said the bump was 98 percent more than in the same quarter a year ago, when it added 17,000 subs, and said its total subscriber base stood at 228,000, up from 115,000 a year ago.

Telus, which offers an IPTV package in Alberta, British Columbia and eastern Quebec, said it believes there's still plenty of room for growth before it tries to expand its footprint elsewhere.

Like most telcos seeing wireline erosion, it had better hope so. Telus said it lost 63,000 residential and commercial wireline customers in the quarter. Analysts fear the growth of its IPTV business won't offset the stiff loses in its wireline business, especially since it also faces Internet and IPTV competition from Calgary-based Shaw Communications.

On the earnings side, Telus said it saw a profit of $296 million, or 92 cents a share, an improvement over the same period a year ago when it recorded profits of $244 million, or 77 cents a share.

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