TELUS has reported their Q2 2017 earnings, with wireless network revenue seeing a 7.2% increase compared to the year ago quarter, reaching $1.7 billion, thanks to the addition of 99,000 postpaid subscribers.
The industry metric blended average revenue per user (ARPU) was increased by 3.9% to $66.87, which the company stated was their “twenty-seventh consecutive quarter of year-over-year growth,” as customers moved to more expensive plans, used more roaming and wireless data.
The increase in postpaid net wireless subscribers to 99,000 is an increase of 62% compared to the year ago quarter, while their churn rate was 0.79%.
“TELUS reported strong second quarter results, including high-quality postpaid wireless loading, anchored by the TELUS team setting unprecedented industry benchmarks for customer loyalty and lifetime revenue,” said Darren Entwistle, President and CEO in a statement.
Operating expenses before depreciation and amortization rose 6.1% to $2.08 billion, which hampered net profit, as TELUS spent more on marketing and offered more discounts on phones to compete with rivals such as Rogers and Bell.
TELUS now has 8.7 million total wireless subscribers, up 3.2% from a year ago, with their postpaid subscriber base now at 7.8 million, up 5.1% compared to a year ago. High speed Internet customers saw a jump 5.3% to 1.7 million, while TV subscribers sit at 1.1 million, up 4.5% compared to the year ago quarter.
The company’s shares are down 1.47% as of writing this morning, to $44.88 per share.
