Telus says the first three months of 2023 were the “strongest first quarter on record.”
The company added 163,000 new mobile and fixed customers, growing that figure by 10 percent compared to Q1 2022.
This figure includes 47,000 new mobile phone net additions. Darren Entwistle, Telus’ president and CEO, says this figure represents the “best first quarter result since 2010.”
The company also increased its connected devices count by 58,000 and added 35,000 internet customers.
Telus reports total operating revenue of $5 billion, a 16 percent increase year-over-year. This was partially due to growth in its technology solutions (TTech) segment, which includes growth in health services and increased revenue from roaming services and subscriber growth.
Revenue from mobile services increased by 7 percent and by 15 percent for mobile equipment. The latter is due to higher-value smartphones and increased contracts.
However, the company saw its net income decrease; $224 million this quarter is a nearly 45 percent decrease from Q1 2022.