VANCOUVER – Telus Corporation today released its second quarter 2022 results, reporting operating revenues increased 6.4% to $4.4 billion compared to the same quarter of 2021 and adjusted EBITDA increased 8.9% to $1.6 billion.
The company’s mobile network revenue was reported to have increased by $97 million, or 6.4%, for Q2 2022 compared to Q2 2021, “due to growth in the mobile phones and connected device subscriber bases over the past 12 months, in addition to higher mobile phone ARPU,” a press release says.
Mobile phone ARPU was reported to be $57.74 for Q2 2022, an increase of $1.18 or 2.1% compared to the same quarter the previous year.
Telus further reported a decrease in mobile equipment and other service revenues of $42 million, or 8.4% this quarter.
Mobile phone gross additions increased 15,000 year-over-year to 320,000 in Q2 2022 and mobile phone net additions increased by 4,000 to 93,000. The company’s mobile phone churn rate for the quarter was 0.81%, which is unchanged compared to the same quarter of last year.
In terms of fixed services, Telus reported fixed data services revenue increased by $46 million in Q2 2022, fixed voice services revenue decreased by $13 million and fixed equipment and other services revenue increased by $21 million.
The company also reported Internet net additions of 34,000 this quarter, an increase of 4,000 compared to the same quarter of 2021 and TV net additions of 15,000, an increase of 4,000. Residential voice net losses were 7,000 for the quarter, compared to net losses of 10,000 in the same period of 2021.
“Our robust performance reflects the potency of our globally leading broadband networks and customer-centric culture, which enabled record second quarter total customer additions of 247,000,” said Darren Entwistle, president and CEO of Telus, in the release.
“This included strong mobile phone net additions of 93,000, our best second quarter result since 2011, and industry-leading total fixed net additions of 62,000, an all-time second quarter record for TELUS,” he said.
“Our leading customer growth is underpinned by our consistent, industry-best client loyalty across our mobile and fixed product lines. Notably, again this quarter, blended mobile phone, PureFibre internet, Optik TV, security and voice churn were all below one per cent. Moreover, our industry-leading postpaid mobile phone churn of 0.64 per cent was unchanged over the prior year period, and represents the seventh quarter out of the last 10 below 0.80 per cent.”
For more on Telus’ Q2 2022 financial results, please click here.
