{"id":39529,"date":"2025-08-01T14:23:13","date_gmt":"2025-08-01T14:23:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/39529\/"},"modified":"2025-08-01T14:23:13","modified_gmt":"2025-08-01T14:23:13","slug":"telus-profit-subscriber-growth-drop-steeply-in-second-quarter","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/39529\/","title":{"rendered":"Telus profit, subscriber growth drop steeply in second quarter"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

Telus’s net subscriber connections were down across every category of service that the company breaks out for the second quarter.Justin Tang\/The Canadian Press<\/p>\n

Telus Corp.\u2019s T-T<\/a> subscriber growth and profit declined steeply during the telecom\u2019s second quarter, as it entered a $1.2-billion definitive agreement<\/a> to sell its nationwide cell phone tower network to a Quebec pension fund.<\/p>\n

Friday morning, Telus said it has reached a deal to sell the network to the Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec, Canada\u2019s second largest pension manager. <\/p>\n

However, the company\u2019s net subscriber connections were down across every category of service that the company breaks out for the second quarter ended June 30, 2025.<\/p>\n

The company added 55,000 net new mobile phone subscribers in the quarter, down 46 per cent from last year. <\/p>\n

Telus signs $1.26-billion phone tower network deal with Quebec\u2019s Caisse<\/a><\/p>\n

Andrew Coyne: If Bell doesn\u2019t like competing with Telus on its own broadband network, it really won\u2019t like the alternatives<\/a><\/p>\n

The company added 18 per cent fewer net internet customers, 52 per cent fewer security and automation customers, 30 per cent fewer connected device subscribers, and had a net loss of 17,000 home telephone subscribers.<\/p>\n

The company posted a net loss of $245-million in the quarter, compared with $221-million in net income last year. Net income attributable to common shares was down 97 per cent in the quarter.<\/p>\n

Telus reported $5-billion in revenue during the three months ended June 30, up 2 per cent from the same period last year.<\/p>\n

The company\u2019s debt increased by $2.1-billion in the quarter to $27-billion, from $25-billion last quarter. The company is aiming to bring its ratio of net debt to EBITDA to 3, from 3.7 currently (excluding restructuring and other costs) by 2027.<\/p>\n

The company has said bringing down leverage is a top priority, and is also selling copper and real estate to reach its target. It also recently raised US$1.5-billion through the issuance of long-term junior subordinated notes, in part to repay debt.<\/p>\n

Yet the company also recently announced a new potential cost. During the quarter, Telus proposed a more than US$400-million deal to take back control<\/a> of its affiliate, Telus Digital, which has seen its share price plummet since it went public. Doing so would therefore lock in major share price losses.<\/p>\n

During the quarter, Canada\u2019s telecom regulator has upheld its decision allowing large telecoms to resell internet services through rivals\u2019 fibre networks, siding with arguments made by Telus Corp. in a long-running policy debate over competition in the sector.<\/p>\n

The Canadian Radio-television and Telecommunications Commission on Friday reaffirmed its 2024 decision that Telus, Bell and Rogers could expand into each others\u2019 fibre networks where they don\u2019t already have their own infrastructure. This means that Telus, whose network is primarily in the West, can expand over Bell\u2019s networks in the East, and vice versa. <\/p>\n

While Telus has been in favour of the policy, all other major telecoms opposed it. Bell and Rogers have both said they will cut investment if the decision is not overturned, and the debate has recently spurred a legal fight between Telus and Bell over customer practices. Several companies have sought leave to appeal the decision, Cabinet has the power to force the CRTC to alter the framework until Aug. 13.<\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: Telus’s net subscriber connections were down across every category of service that the…\n","protected":false},"author":2,"featured_media":39530,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[901,888,902,879,877,903,45,49,48,876,895,896,891,878,875,46,549,295,894,887,914,880,881,893,889,890,884,904,885,909,910,912,907,911,905,908,882,898,899,714,897,906,865,61,900,892,886,883,913],"class_list":["post-39529","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-alberta","tag-arts-news","tag-bc","tag-breaking-news","tag-breaking-news-video","tag-british-columbia","tag-business","tag-ca","tag-canada","tag-canada-news","tag-canada-sports","tag-canada-sports-news","tag-canada-trafficcanada-weather","tag-canadian-breaking-news","tag-canadian-news","tag-economy","tag-education","tag-environment","tag-federal-government","tag-foreign-news","tag-globe-and-mail","tag-globe-and-mail-breaking-news","tag-globe-and-mail-canada-news","tag-government","tag-life-news","tag-lifestyle","tag-local-news","tag-manitoba","tag-national-news","tag-new-brunswick","tag-newfoundland-and-labrador","tag-northwest-territories","tag-nova-scotia","tag-nunavut","tag-ontario","tag-pei","tag-photos","tag-political-news","tag-political-opinion","tag-politics","tag-politics-news","tag-quebec","tag-sports-news","tag-technology","tag-travel","tag-trudeau","tag-us-news","tag-world-news","tag-yukon"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/39529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=39529"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/39529\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/39530"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=39529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=39529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=39529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}