Telus Q2 2019 Adds 82,000 Mobile Phone Wireless Subscribers, Beating Analyst Estimates [u]

TELUS store 2019

Telus announced its second-quarter earnings today for 2019, seeing operating revenue of $3.6 billion, a 4.2% increase compared to the year ago quarter.

The company announced net income of $520 million, a 31% increase year-over-year.

Telus says it added 82,000 mobile phones wireless subscribers, up 19% compared to the year ago quarter, to go with 72,000 “mobile connected devices,” beating analyst estimates.

Canaccord Genuity estimated Telus would get 55,000 wireless subscribers for the quarter, while RBC Capital Markets estimated 49,000 net mobile phone subscribers.

The company’s mobile phone ARPU (average revenue per user) of $60.30 per month fell 1.2%, due to “declines in chargeable data usage and competitive pressures on base rate plan prices and changes in our customer mix,” which offset increased wireless customers on plans with larger data plans.

“TELUS reported strong second quarter results, including robust subscriber net additions across our portfolio of growth services. This was anchored by the TELUS teams’ efforts to deliver a superior performance in respect of wireless and wireline customer loyalty,” said Darren Entwistle, President and CEO, in a statement.