Telus reports 6.8%, 7.6% growth in Q3 revenue, EBITDA

8 Nov 2021

Canadian full-service operator Telus reported that its consolidated revenues increased by 6.8% year-on-year to CAD4.251 billion (USD3.412 billion) in the three months ended 30 September 2021. Q3 EBITDA increased by 7.6% y-o-y to CAD1.496 billion, which the company said reflected higher internet and data service margins resulting from subscription base growth and expanded services, growth in network revenue from increases in the mobile phone and connected device subscription bases, growth in mobile equipment margins and an increased contribution from ‘digitally-led customer experiences.’ Telus posted net additions of 135,000 mobile phone and 110,000 connected device subscriptions in 3Q21, alongside 46,000 fixed broadband and 10,000 TV net subscriptions, with residential fixed voice line losses of 11,000 in the three-month period.

As part of Telus’ accelerated fixed and mobile broadband network rollout, CAD442 million of the up-to-CAD750 million targeted for 2021 was invested by end-September, advancing its fibre-to-the-premises (FTTP) build and 5G coverage. By the end of Q3 2021 the ‘PureFibre’ FTTP network covered more than 2.6 million premises, up from 2.5 million at the start of the year, with Telus highlighting ongoing FTTP expansion across many rural and Indigenous communities and an acceleration of copper-to-fibre customer migration. 5G mobile population coverage reached 64% of the population at the end of the third quarter, up from 28% at the start of the year, with an end-2021 target of 70%.

Canada, Telus Corporation