TELUS Picks Up Subscribers in Q3 After Rogers’ Network Outage - Counterpoint Research

TELUS had an fantabulous 3rd 4th with YoY maturation crossed each segments. The net telephone focused connected the deficiency of churn successful this 4th and the dependability of TELUS’ network, with nary nonstop notation to the Rogers nationwide outage that caused a standstill successful the state astatine the opening of July. But the mobile gross additions during Q3 2022 were astatine their highest for TELUS since earlier the pandemic. Even arsenic TELUS saw large occurrence successful its mobile segment, its different segments similar IoT, TV and wireline besides saw important maturation this quarter.

Information Source: TELUS

TELUS continues to support churn low; Expands 5G Coverage by 23%

• While emphasizing connected lawsuit loyalty and little churn, TELUS highlighted that this was the eighth 4th retired of the past 11 wherever the postpaid churn was beneath 0.80%. The 4th saw 0.73% churn for the postpaid conception and 0.95% erstwhile combined with the prepaid segment.
• Mobile telephone ARPU accrued 2.3% YoY. This was attributed to the adoption of 5G+ plans that customers are upgrading to. The aboriginal motorboat of the iPhone 14 bid would besides assistance boost ARPU arsenic carriers are a ascendant income transmission for these devices.
• Service gross was up 4.2% YoY. Mobile web gross was besides up 6.8%. Roaming revenues continued to summation to attack pre-pandemic levels arsenic radical continued to question and sorb roaming fees. The upgrade to 5G+ plans besides contributed to the summation successful mobile web revenue.
• 5G enlargement has been progressing accelerated for TELUS, with the full 5G colonisation sum expanding 22.8% to 29.6 cardinal arsenic against LTE’s 37 million.

Information Source: TELUS

Growth successful connected devices class slowed down

• Connected devices person been a ample increasing conception for TELUS successful the past year, with the income of smartwatches, tablets and different IoT devices expanding astatine the carrier. Connected instrumentality income saw an summation of 15.1% from Q3 2021.
• Wireline saw 36,000 net nett additions, not arsenic beardown arsenic the 46,000 nett additions past year. Total net subscribers saw a YoY summation of 6.3% successful Q3 2022.
• TV nett additions saw ample maturation astatine 18,000, up 8,000 from past twelvemonth to effect successful a 4.9% summation YoY.

TELUS continues to fortify its presumption successful Healthcare and Security

• Healthcare has been a increasing absorption for TELUS extracurricular the wireless manufacture arsenic COVID-19 proved the request for amended connectivity wrong the healthcare system. TELUS has been capable to adhd 1.7 cardinal virtual healthcare members to its Lifeworks web successful the past year. It tin accommodate up to 60.4 cardinal people.
• Security devices and memberships person besides seen a spike this twelvemonth for TELUS, with full subscribers to the work present reaching 950,000, a 22.9% summation YoY. Ecosystem OEMs similar Google person developed astute doorbells and location cameras with connectivity to smartphones, which has boosted this conception significantly.
• New planetary metrics amusement a 19.3% gross summation for the exertion and games segments of TELUS. With unreality and mobile gaming gaining popularity, these metrics volition invitation an accrued absorption from carriers.

Overall, TELUS has had large occurrence this year, not lone boosting its wireless marketplace but besides rapidly expanding its different businesses successful sectors similar healthcare and security. TELUS is connected way to conscionable the 2022 guidance it had acceptable astatine the extremity of past year. TELUS has already reached the extremity of 10% maturation successful adjusted EBITDA and 9.9% maturation successful operating revenues YoY. The consolidated targets are attainable successful Q4 arsenic beardown income of flagship devices proceed to thrust the marketplace and roaming fees proceed to ascent with question becoming easier the satellite implicit with the gradual lifting of COVID-19 curbs.