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Telus Q3 9.3% sales growth supported by solid mobile, fixed broadband performance

7 Nov 2022

Canadian telecoms and digital solutions group Telus posted total operating revenues (excluding intersegment sales) of CAD4.671 billion (USD3.463 billion) for the third quarter of 2022, up 9.3% year-on-year, divided between its ‘TELUS technology solutions (TTech)’ segment which reported turnover of CAD4.004 billion – also up 9.3% y-o-y – and the ‘TELUS International (Digitally-led customer experiences – DLCX)’ segment which showed a 13.6% revenue improvement to CAD667 million in the three months ended 30 September. TTech revenue growth highlights in 3Q22 included: mobile network revenue climbing 6.8% y-o-y to CAD1.696 billion; mobile equipment/other service revenues up 4.2% to CAD545 million; and fixed data service revenues up 5.4% to CAD1.099 billion.

Consolidated Q3 EBITDA increased by 10.1% to CAD1.646 billion, reflecting: higher mobile network revenues, higher mobile phone ARPU, increased contribution from the DLCX segment, increased internet and data service revenues, and contribution from the acquisition of healthcare firm LifeWorks on 1 September 2022. Quarterly net income of CAD551 million was up 54% y-o-y. CAPEX decreased by CAD66 million y-o-y to CAD925 million driven by a planned slowdown in fibre network investments due to approaching Telus’ current build targets compared to the accelerated investments in the first half of the year. As at 30 September 2022, 2.9 million households and businesses in British Columbia, Alberta and Eastern Quebec were covered with Telus’ fibre-optic broadband network, up from 2.6 million premises a year earlier, while the telco has accelerated copper-to-fibre migration, and continued to advance the build-out of its 5G mobile network, which covered approximately 80% of the Canadian population at end-Q3.

Canada, Telus Corporation

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