Telecom giant Telus says its 2022 fourth quarter financial results are the best Q4 results “on record.”
The company added 112,000 mobile customers, which remained unchanged compared to the year prior. Despite not seeing growth in the section, Telus increased its mobile network revenue by $104 million (6.5 percent) partially due to an increase its connected device subscriber base. Higher ARPU (referring to how much Telus made off each mobile customer) also played a role, which Telus largely attributes to increased roaming.
Telus also added 106,000 connected devices and saw revenue from mobile equipment increase by 9.7 percent.
However, the company’s total profits saw a sharp decline. Telus pulled $265 million in profit this quarter, compared to $663 million in Q4 2021.
More to come…