VANCOUVER – Telus today reported its operational and financial results for the third quarter of 2021, which included total mobile and fixed customer growth of 320,000 – an increase of 43,000 from 2020.
This marks the company’s highest quarter ever, a press release says, and is inclusive of 135,000 mobile phones, 110,000 connected devices, 46,000 Internet, 30,000 security and 10,000 TV customer connections. “This was partly offset by residential voice losses of 11,000.”
At the end of Q3, Telus’s “PureFibre network covered more than 2.6 million premises, up from more than 2.4 million premises in the third quarter of 2020,” the release says.
“During the quarter, our team continued to execute on our accelerated broadband build, connecting more homes and businesses directly to our leading TELUS PureFibre service and expanding our 5G network to 64 per cent of the Canadian population, and to be enhanced with the deployment of 3500MHz in the months ahead,” said Doug French, executive vice-president and CFO of Telus, in the press release.
The company expects to expand its 5G network to over 70% of the country’s population by the end of the year.
Telus also reported today adjusted net income increased 10% to $392 million in Q3 2021 compared to Q3 2020 and consolidated revenue grew 7%. Adjusted EBITDA increased 7% to $1.6 billion in Q3 2021 compared to the same quarter in 2020.
“This growth reflects: (i) higher internet and third-wave data service margins, as well as other fixed data service margins, resulting from subscriber base growth and expanded services; (ii) growth in network revenue from increases in our mobile phone and connected devices subscriber bases; (iii) growth in mobile equipment margins; (iv) an increased contribution from our Digitally-led customer experiences – TELUS International (DLCX) segment from customer growth, including business acquisitions, and increased depth and breadth of services offered to its existing customers; and (v) lower bad debt expense,” the press release says.
“Our team once again achieved strong operational and financial results in the third quarter,” said Darren Entwistle, president and CEO of Telus, in the press release.
The company’s “continued execution excellence was again characterized by the consistent combination of industry-leading and profitable customer growth, resulting in strong financial results across our business as evidenced by consolidated revenue and EBITDA both increasing 7 per cent.”
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