Telus, Quebecor report subscriber jumps in Q3 2026

The big four Canadian telecom providers revealed their Q3 earnings this week, and I’ll do a quick rundown of how they did, which companies are up, which are down, and what their numbers look like.

Telus

Let’s start with Telus. In its Q3 earnings report, released today, the company reported a net loss of $660 million, mainly driven by a non-cash goodwill impairment related to Telus Health. With this in mind, the company reported a new savings plan that it says will save approximately $900 million by the end of 2028.

On subscribers, the company said mobile service revenue was up 1 per cent, driven by a net gain of 84,000 subscribers and stable ARPU. Alongside this, Telus noted that mobile subscribers were up one per cent to 10.4 million,  its connected devices were up 22 per cent to 5.1 million, and its internet subscribers were up 2 per cent to 2.8 million.

Rogers

Now, Rogers has had a pretty interesting year financially, largely headlined by the purchase of MLSE. The company reported total revenue of $5.4 billion this quarter; however, wireless service revenue ($2.688 billion) was down 1% from last year, and it blamed the CRTC for banning certain fees.

Rogers also reported net 17,000 mobile subscriber additions, down from 62,000 in Q3 2025. The company’s total net internet additions totalled 10,000, which is down from 29,000 a year earlier.

Bell

Let’s shift to Bell. The company reported net operating revenue of $6.1 billion in Q3 2026 (up 2.2 per cent), but also noted net earnings of only $701 million, which it attributed to lower gains on investments from the MLSE sale.

Shifting to subscriber counts, Bell reported a total of 10.4 million mobile phone customers, with 9.6 million postpaid (up 1.1 per cent, and just over 800,000 prepaid customers (down 8.3 per cent). In terms of internet, Bell’s fibre optic added 8,163 less customers than Q3 2025, and added 995 less net high speed internet subscribers compared to last year. Video-wise, Bell reported losses of 5,328 subscribers, compared to only 1,609 last year.

Quebecor

Finally, let’s talk about Quebecor, the owner of Freedom. The company reported that its telecom segment grew by $51.4 million, including $43.1 million in revenue growth from its mobile services and $9.3 million from its internet services.

The company also added 136,700 mobile lines (up from 113,800 last year), which it says is the largest quarterly increase since it launched mobile services in 2010. Quebecor’s CEO Pierre Karl Peladeau says that Videotron, Fizz, and Freedom all contributed to the success.