Telus says 110,000 mobile phone additions were best Q2 since 2010

The company also reported a 61 percent drop in net income and 6,000 layoffs

Vancouver-based Telus released its “resilient” Q2 2023 financial results Friday morning alongside announcing 6,000 layoffs.

The company reported total customer growth of 293,000, an increase of 46,000 over last year. Telus says this is a second-quarter record.

On the mobile side, Telus saw 110,000 mobile phone net additions, its best Q2 since 2010. It also reported a record connected device net additions of 124,000, another Q2 record. Telus reported churn of 0.91 percent and average revenue per unit (ARPU) growth of 1.8 percent.

The company also reported 59,000 fixed customer net additions, including 35,000 internet customer additions.

Telus reported consolidated operating revenue of 13 percent and earnings before interest, taxes, depreciation and amortization (EBITDA) growth of five percent. However, net income fell by 61 percent.

Telus declared a quarterly dividend of $0.3636, up 7.4 percent over the same period last year, yielding over six percent per share.

Mobile network revenue increased by $95 million in Q2 2023.

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