The following is a summary of the TELUS Corporation (TU) Q3 2024 Earnings Call Transcript:

Financial Performance:

• TELUS reported strong Q3 2024 financial results, with a notable EBITDA growth of 5.6%, demonstrating the effectiveness of their transformational efficiency programs.

• Mobile network revenue grew by 0.7%, driven by subscriber additions, despite a decline in mobile phone ARPU by 3.4%.

• Fixed data service revenue saw a growth of 1.9%, supported by strong customer additions.

• Total operating revenues increased by 1% year-over-year and adjusted EBITDA increased by 1.3%.

Business Progress:

• TELUS continues to expand and invest in its PureFibre network, achieving significant wireline customer growth with 34,000 new Internet additions.

• The company launched new consumer products, including TELUS Smart Energy and TELUS HomeView, enhancing their home security and automation offerings.

• TELUS Business Solutions experienced robust growth, capitalizing on opportunities in IoT and private wireless networks.

Opportunities:

• The continued expansion of the PureFibre network and the launch of new consumer products present significant growth opportunities in both the consumer and business sectors.

• The focus on IoT and the business sector (TELUS Business Solutions) offers expansion into new revenue streams.

Risks:

• The competitive intensity in the telecom market, particularly in western Canada, poses challenges to pricing and customer retention.

• Elevated competitive activities impacting mobile ARPU, with pressures from aggressive market pricing and promotional activities.

More details: TELUS IR

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