VANCOUVER — Telus experienced a solid quarter in Q2 2018 with its revenues reaching $3.5 billion, a 5.3% increase compared to the same quarter last year, primarily due to strong growth in its wireless network and wireline data services, the company announced Friday morning.
The company’s EBITDA (earnings before interest, taxes, depreciation and amortization) increased by 3.6% to $1.3 billion due to higher wireless network revenues and wireline services revenue growth, partially offset by incremental employee benefits expense and other expenses due to recent business acquisitions, Telus said in a news release announcing its Q2 2018 financial results. The company’s adjusted EBITDA was also up 3.6% when excluding restructuring and other costs, Telus said.
Telus’s net income of $397 million in the second quarter of 2018 was relatively flat compared to the same period of last year, and its basic earnings per share of $0.66 was unchanged over last year.
“Telus reported strong second quarter results, including robust customer growth across both the wireless and wireline segments of our business. This was anchored by the Telus team continuing to achieve strong performance results for wireless and wireline customer loyalty and lifetime revenue,” said Darren Entwistle, Telus president and CEO, in the news release.
“Notably, the second quarter was characterized by the best combined retention levels on record in respect of postpaid wireless, high-speed Internet and TV. This contributed to the strong customer growth, alongside continued value-creating financial results, driven by our team’s relentless focus on providing the best customer experience, buttressed by the ongoing generational investments we are making in our leading broadband networks,” Entwistle added.
All told, Telus attracted 135,000 new wireless, high-speed Internet and Telus TV customers in the second quarter of 2018, an increase of 30,000 net additions or 29% over the same quarter last year. These total net additions included 87,000 postpaid wireless net adds, 4,000 prepaid wireless net adds, 29,000 high-speed Internet subscribers and 15,000 Telus TV customers.
The company’s total wireless subscriber base of 9 million increased by 3.5% from a year ago, which reflected a 4.6% increase in postpaid wireless subscribers to 8.1 million. In addition, the company’s high-speed Internet connections of 1.8 million were up 5.3% from the same quarter last year, while its Telus TV subscriber base stands at 1.1 million.
To access Telus’s full financial results for the second quarter of 2018, click here.
