Telus reports best first-quarter mobile customer growth since 2010

New customers were also added to Telus' security business

Telus is reporting its best first-quarter mobile customer results in 15 years.

The company added 46,000 mobile phone net additions in the first quarter of 2022, increasing 15,000 year-over-year.

Net additions calculate the number of new subscribers minus the subscribers that dropped the service.

The growth helped Telus report a roughly five percent mobile network revenue increase ($74 million) year-over-year.

Similar growth wasn’t reported for mobile equipment, as revenues decreased by seven percent ($33 million) in Q1 2o22. Customers not updating their devices played a role, as they preferred to use the same device for an extended period.

Telus was also able to hold onto more customers than the last quarter, reporting a mobile churn rate of 0.81 in Q1 2022 compared to 0.89 in Q1 2021. The company attributes customer retention to family discounts, bundles, and the preference to hold onto devices longer.

Telus was recognized for these figures through multiple awards this past quarter, including being the most respected mobile provider in Canada, offering the fastest mobile speeds and consistent quality.

Revenue growth for other businesses

Telus also added 30,000 internet net additions, representing a decrease of 3,000 year-over-year. The company reported a similar decline for TV customers, which only had 10,000 new net additions (a reduction of 1,000 customers year-over-year).

There were 26,000 net security additions, which increased by 9,000 year-over-year.

Despite the losses, these figures allowed Telus to increase its revenue for fixed products and services by five percent ($52 million) year-over-year, as customers paid more for internet services due to internet speed upgrades and extensive data plans.

The growth helped offset the 10,000 customers Telus lost through legacy voice services. Revenue from these services decreased by 6.5 percent ($14 million) year-over-year.

Telus is reporting a total subscriber base of 17 million. This includes 9.3 million mobile phone subscribers, 2.1 million connected devices subscribers, 2.3 million internet customers, 830,000 security customers, and roughly 1.3 million TV subscribers.

Capital spending

Telus says it spent $200 million in the first quarter of 2022 to switch premises to its fibre network, expand its network in various communities, advance its 5G network, and accelerate a program that sees customers move away from copper to a fibre network.

As of March 31st, Telus’ fibre network was available to 2.8 million premises, increasing the 2.5 million reported in the first quarter of 2021.

Source: Telus