07:18 AM EST, 11/08/2024 (MT Newswires) -- TELUS Digital ( TIXT ) was at last look up 0.3% in US premarket on Friday as it reported a drop in adjusted profit and a net loss in the third quarter on lowered revenues. But the company said it is "on target to achieving its full-year outlook."

The company for Q3 reported a net loss of US$32 million and diluted loss per share of $0.12, compared with net income of $9 million and diluted EPS of $0.03 in the same quarter of the prior year, due to increases in operating expenses and lower revenue earned, partially offset by lower income taxes.

Adjusted net income was $15 million, compared with $53 million in the same quarter of the prior year, primarily due to higher salaries and benefits, goods and services purchased, share-based compensation expense, and lower revenues earned, partially offset by lower income tax expense.

TELUS ( TU ) reported revenue of $658 million, a decrease of $5 million or 1% on a reported basis and on a constant currency basis. It said the year-over-year comparison reflected a "persistently challenging macroeconomic environment and competitive conditions in the industry", with lower revenues from a leading social media client and other technology clients, as well as certain telecommunication and e-commerce and fintech clients, however, partially offset by revenue growth from services provided to TELUS Corporation ( TU ), among other existing clients, as well as new clients added since the same quarter in the prior year.

For the full-year 2024, management continues to expect: Revenue in the range of $2,610 to $2,665 million; Adjusted EBITDA in the range of $465 to $485 million and Adjusted EBITDA Margin in the range of 17.8% to 18.1%; and Adjusted Diluted EPS in the range of $0.39 to $0.44.