Telus announced an update to its annual guidance for 2023 as a result of Telus International’s, or TI, updated full-year annual outlook. The update to TI’s full-year outlook, which now calls for revenue in the range of $2.7B to $2.73B and Adjusted EBITDA of $575M to $600M, was revised lower due to more pronounced than anticipated demand challenges in the near-term from certain clients within the technology vertical. Due to TI’s updated annual outlook for 2023, Telus is now targeting consolidated operating revenue growth of 9.5% to 11.5% (rom 11% to 14% and adjusted EBITDA growth of 7% to 8% from 9.5% to 11%. Telus is the controlling shareholder of TI and as a result consolidates its financial results through Telus’ DLCX operating segment. In the first quarter of 2023, DLCX adjusted EBITDA represented approximately 10 per cent of TELUS’ consolidated financial results. Importantly, the implied financial guidance for Telus’ TTech operating segment remains unchanged for 2023.
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