Telecom giant Telus says its 2022 fourth quarter financial results are the best Q4 results “on record.”
The company added 112,000 mobile customers, which remained unchanged compared to the year prior. Despite not seeing growth in the section, Telus increased its mobile network revenue by $104 million (6.5 percent) partially due to an increase its connected device subscriber base. Higher ARPU (referring to how much Telus made off each mobile customer) also played a role, which Telus largely attributes to increased roaming. Revenue from mobile equipment increase by 9.7 percent.
Telus added 106,000 connected devices (a 30 percent increase) and also grew its internet subscriber base by five percent.
However, the company’s total profits saw a sharp decline. Telus pulled $265 million in profit this quarter, compared to $663 million in Q4 2021. The company says the cost of “higher goods and services purchased” played a role.
Telus also recently revealed that it acquired two independent service providers. It acquired Altima in June 2022 and Start.ca in January 2023. However, neither of those transactions are part of the Q4 results.
More to come…
Source: Telus
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