After Rogers and Bell, it was Telus’ turn to go public with its holiday-quarter earnings: the Vancouver-based carrier reported growth in revenue of 2.8% to $3.22 billion; $261 million, or a 16% drop, in net income; and a 1.2% drop in profits to $324 million in the three months that ended in December. Wireless data revenue increased 9.9% from a year ago, driving wireless revenue up by 3%, or $46 million, to $1.6 billion.
However, Telus’ wireless arm continued its growth despite a highly competitive quarter: it added 62,000 new postpaid wireless subscribers. Although it was 56,000 short of last year’s additions in the same period, it was double Rogers’ 31,000. Bell, on the other hand, managed to add 91,000 as the carriers continued to attract subscribers who had two- and three-year wireless contracts expire in this period.
As Telus’ press release points out, economic conditions, particularly in Alberta, and higher smartphone prices were the causes of the lower-than-usual customer additions.
Blended ARPU (average revenue per user) increased by 0.6% to $63.74, reflecting Telus’ 21st consecutive quarter of year-over-year growth.
Telus said it will continue to invest in its wireless network for 4G LTE expansion and upgrades, including the ongoing deployment of 700 MHz and 2,500 MHz spectrum.