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TELUS adds 347K customers in Q3

Market News, Technology, Telecommunication
TSX:T
08 November 2024 11:45 (EST)
the outside of a TELUS building with the TELUS logo on the left side of the building

(Source: Shutterstock)

TELUS Corporation (TSX: T) has reported its Q3 2024 financials, highlighting it had added 347,000 new customers to its subscriber base.

The company stated in a press release the additional customers include 13,000 mobile phone users and 159,900 connected devices, increasing its total subscriber base by 6.4 per cent year-over-year.

“We continue to deliver strong financial results, underpinned by our commitment to customer growth, operational excellence, and strategic investments in technology and broadband networks,” Darren Entwistle, CEO of TELUS, said in a statement. “We are confident in our ability to drive sustainable, margin-accretive growth, and we remain focused on executing our long-term strategy.”

Key Financial Highlights:

In terms of its TELUS Health segment, it reported a 4 per cent revenue increase, with a 50 per cent growth in Adjusted EBITDA. The company’s virtual care members rose 18 per cent to 6.5 million, and healthcare lives covered grew 9.2 per cent to 76 million.

Meanwhile TELUS Agriculture saw a 20 per centincrease in revenue, further strengthening its position in the global market.

As the year draws to a close, TELUS has also reaffirmed its full-year 2024 financial targets for TTech operating revenue growth and capital expenditures while maintaining its focus on cost efficiency and driving long-term profitability.

TELUS offers a broad portfolio of technology solutions, encompassing mobile and fixed voice and data services, healthcare software and technology, and digitally-driven customer experiences. Its data services include internet protocol, television, hosting, managed IT and cloud-based solutions, as well as home and business security.

The TELUS Technology Solutions segment covers network revenues, equipment sales from mobile technologies, data services, healthcare technology solutions, and services for agriculture and consumer goods, along with voice and other telecommunications services.

Shares of TELUS are up 3.90 per cent to $21.84 as of 11:00 a.m. ET

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(Top image: Shutterstock)


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