TELUS reports 20% revenue growth in fourth quarter, driven by subscriber connections

  • TELUS Corp. YOU reported operating and other revenue growth of 20% year-over-year to C$4.87 billion in the fourth quarter.
  • Total subscriber connections increased 5.9% year-on-year to 16.9 million.
  • During the quarter, it added 272,000 new customers, up 19,000 from last year, and includes 112,000 mobile phones, 81,000 connected devices, 41,000 internet connections, 31,000 security and 18,000 connections TV customer. The mobile phone churn rate was 1.04%.
  • Adjusted core EPS was C$0.23.
  • Adjusted EBITDA increased 7.6% year-over-year to C$1.52 billion.
  • The company generated C$896 million in operating cash flow and C$43 million in free cash flow.
  • The board increased the quarterly dividend by 5.2% to C$0.3274.
  • price action: TU shares traded up 1% at $24.76 in the market last check on Thursday.

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