TELUS Q3 Numbers Are Out And They Show Growth On The Wireless Side Of Things…. Not So Much On The Internet Side Of Things

In my attempt to see how the great Rogers outage in July affected the Canadian telco landscape, I’ve been tracking the Q3 results of the “big three” telcos here in Canada. Yesterday Bell released their Q3 numbers and they showed “best-ever” growth in Q3. Today TELUS released their numbers and I’ll let TELUS CEO Darren Entwistle give you the highlights:

“In the third quarter, the TELUS team once again demonstrated continued execution excellence, characterized by the potent combination of industry-leading customer growth, resulting in strong operational and financial results across our business,” said Darren Entwistle, President and CEO. “Our robust performance reflects the chemistry of our globally leading broadband networks and customer-centric culture, which enabled our strongest quarter on record, with total customer net additions of 347,000, up more than 8 per cent, year-over-year. This included strong mobile phone net additions of 150,000, up 11 per cent over last year and the best quarterly result since the third quarter of 2010; record high connected device net additions of 124,000; and industry-leading total fixed net additions of 73,000. 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, security and voice churn were all at or below one per cent. Moreover, our industry-leading postpaid mobile phone churn of 0.76 per cent represents the eighth quarter out of the last 11 below 0.80 per cent.”

So to recap, TELUS added 347,000 new customers. And 150,000 of the new customers are mobile customers, representing “the best quarterly results since the third quarter of 2010” and an 11 percent increase year over year. The other thing that I notice is their churn rate, or people who leave TELUS continues to be low. Thus these are good numbers for TELUS. The only thing that might be a negative is this:

Internet net additions were 36,000 in the third quarter of 2022, a decrease of 10,000, due to modestly higher churn compared to relatively low churn rates during heightened pandemic restrictions in the prior year, in addition to macroeconomic pressures impacting consumer purchasing decisions. This was partly offset by our success in driving strong gross additions through bundled product offerings, including the TELUS Whole Home bundle and our bundling of mobility and home services.

TELUS only has its Internet offerings in Western Canada, so they don’t have the same opportunity to steal customers from Rogers that Bell has. Though if anyone from TELUS is reading this message, if you come east to Ontario, Quebec and beyond, I am certain that you can grab your share of customers from both Rogers and Bell.

So with two of the “big three” reporting. And both showing growth with low amounts of churn, that leaves Rogers to report. That’s going to happen on the 9th of November, and it will be interesting to see how bad Rogers churn numbers are, and what the rest of their results look like.

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