The Globe and Mail reports in its Saturday edition that Telus's second quarter profit was down amid what it calls a challenging macro economic, competitive and regulatory environment. The Globe's Alexandra Posadzki writes that Telus had $4.95-billion in revenue for the three-month period ended June 30, up 12 per cent year over year from $4.4-billion. Telus said its revenues were boosted by a number of factors including the Lifeworks acquisition, growth in wireless subscribers, and new clients and services at Telus International. Second quarter profit was $196-million, down 61 per cent from the same quarter last year, when it reported $498-million of profit. The earnings amounted to 14 cents a share, compared with 34 cents a share during the same period last year. Telus attributed the decline to higher depreciation and amortization relating to acquisitions and investments in its broadband network, increased financing costs and higher employee benefit expenses relating to restructuring. After adjusting for various items including restructuring and income tax, its profit came to $273-million, down 35 per cent year over year from $422-million. That amounted to 19 cents a share, down from 32 cents a share.