TELUS Q2 2016 Adds 61,000 Net Postpaid Wireless Subscribers

TELUS announced its Q2 2016 earnings this morning, which saw the company post $3.45 billion in external operating revenues for their wireless segment.

The company added 61,000 net wireless postpaid subscribers, lower than the 76,000 it added a year ago, and lower than the 65,000 Rogers and nearly 70,000 Bell added this latest fiscal quarter.

TELUS now has 8,427,000 total wireless subscribers, up 0.9% compared to a year ago, still cementing its position as the second large wireless carrier in the country. The company said there was a 2.1% increase in their postpaid subscriber base, which now stands at 7.4 million.

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Industry metric Average Revenue Per User jumped 1.3% compared to a year ago to $63.73, while TELUS says its “focus on customer service excellence” resulted in a monthly postpaid churn rate of 0.90 per cent, leading the industry.

CEO Darren Entwistle said in a statement, “Impressively, our team continues to deliver strong subscriber, revenue and EBITDA growth in both our wireless and wireline businesses despite the economic challenges in Alberta.”

Desjardins Capital Markets analyst Maher Yaghi, dubbed the quarter a “comeback” for Telus, noting strong wireless gains and growing margins, saying “Now that all major companies have reported, it looks like wireless loading across the board came back to life after a miserable first quarter,” adding “All three incumbents took a fair share, unlike in previous quarters.”