Telus has posted its second quarter earnings, and the numbers are looking good: revenue up 5.1% to $3.1 billion, and wireless network revenue up by $90 million (or 6.1%) to $1.57 billion compared to the same period a year ago.
The growth in wireless was driven by an 18% increase in data revenue due to subscriber growth, an increased proportion of the more profitable two-year plans, higher data usage, and the expansion of TELUS’ LTE network coverage.
The TELUS team’s relentless focus on putting customers first has translated into industry-leading loyalty and retention that continues to underpin our solid financial performance. Through years of a company-wide commitment to genuinely earn customer loyalty, we continue to gain the trust of our customers as exemplified by this quarter’s North American-leading customer loyalty measure of a 0.86 per cent monthly postpaid wireless churn rate. Over the past two years, this focus has allowed TELUS to gain nearly 50 per cent of all net new wireless postpaid, high-speed Internet and TV customers versus its five major Canadian peers including an additional 115,000 in the second quarter,” TELUS President and CEO Joe Natale said.
During the last quarter, TELUS added a total of 63,000 new wireless subscribers, up by 14,000 compared to Q2 2014. As of the end of June 2015, Telus has 8.35 million wireless subscribers, up 3.3% or 264,000 since a year ago. Postpaid subscribers account for 86.5% of the total subscriber base.
The average revenue per user, the closely followed industry metric, is up 2.9% to $63.48, continuing its way upward for the nineteenth consecutive quarter of year-over-year growth. That compares to an ARPU of $67.24 reported by Rogers and one of $62.48 by Bell for Q2 2015.