Financial Performance
Telus reported a net income of 310 million Canadian dollars ($230.3 million), or C$0.20 a share, compared to C$265 million, or C$0.17 a share, in the same quarter of the previous year. Adjusted earnings also saw growth, reaching C$0.24 a share, surpassing analysts’ expectations of C$0.23 a share. However, revenue fell slightly short of forecasts, rising to C$5.2 billion from C$5.06 billion, while analysts projected a rise to C$5.24 billion.
Telus experienced a notable increase of 126,000 net additions to its mobile phone service, marking a 13% surge. The company attributes this growth to ongoing market-driven promotional activity, heightened retail and digital traffic, and population growth stimulated by high levels of immigration to Canada.
Internet Services Decline
In contrast to the positive performance in mobile subscriptions, Telus observed a decline in its internet services users. Net additions for internet services amounted to 36,000, down by 6,000 from the previous year. The decrease can be attributed to a higher churn rate resulting from macroeconomic and competitive pressures impacting consumer purchasing decisions.
Health Services Success
Telus reported that it currently serves 5.6 million members enrolled in its virtual care services and has provided healthcare coverage to an impressive 69.5 million lives.
For more information, please contact Telus.
