Telus had a solid Q4 2024 with strong subscriber growth that ballooned to 1.2 million over the fiscal year. That makes this Telus’ third year in a row of surpassing a million new customers.
During the fourth quarter, the company’s revenue hit $5.4 billion, a 3.5 percent increase compared to Q4 in 2023. Telus says the growth was from higher services revenue, real estate investments and copper monetization.
The Vancouver-based telecom giant said that it ended 2024 with a lot of forward momentum that it hopes to continue in 2025. The telecom signed up 328,000 new mobile and fixed customers in Q4, with 70,000 of those being mobile phone subscribers. Together, as mentioned above, the telecom gained 1.2 million new subscribers throughout 2024, and it claims that was due to its unmatched bundles.
Telus also noted that its postpaid churn was 0.9 percent, and its standard mobile churn is at 1.20 percent, which suggests more people are sticking with Telus as opposed to Bell and Rogers. While Bell’s recent earnings report was more downtrodden, with the carrier mentioning economic factors like reduced immigration and The Source turning into Best Buy Express, Telus, by comparison, shows that having better plans simply brings in more customers.
That said, like Bell, Telus has been cutting jobs. It laid off 6,000 workers in 2023 and in 2024, it got into a battle with 150 Ontario workers after the company told them to relocate to Montreal or give up their jobs. And in February 2025, Telus offered buyouts to 700 employees.
You can read the full report here and check out all the numbers.
Source: Telus
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