By Adriano Marchese

Telus logged a higher profit in the first quarter, backed by subscriber growth across its segments driving revenue higher, while competition for mobile customers continues to drive mobile plan prices down.

The Canadian telecom giant posted net income of 301 million Canadian dollars ($216.2 million), or C$0.21 a share, up from C$140 million, or C$0.09 a share, in the comparable quarter a year ago.

Adjusted earnings were C$0.26 a share. According to FactSet, analysts were expecting C$0.22 a share.

Operating revenues and other income rose 3% to C$5.06 billion, topping expectations of a more modest rise to C$5.01 billion.

Telus' TTech segment saw operating revenues rise 2%, primarily reflecting increases in mobile equipment and other service revenues, it said.

The TTech segment includes the company's mobile and fixed services, home and business offerings, and global-growth areas like health, agriculture, and consumer goods

Competition for mobile subscribers has continued to be a dominant a theme in the quarter among Canadian carriers. This has weighed on Telus' mobile network revenue as well in the first three months, falling 1% largely due to lower mobile phone revenue per unit, but partially offset by growth in our mobile phone subscriber base and an increase in internet-of-things connections.

Telus' net mobile phone subscribers were 20,000, a decrease of 25,000 over the prior-year period.

Across all its services, Telus added 218,000 net customers, an increase of 9,000 over the same period last year. Including the 20,000 net mobile additions, it added 148,000 connected devices, as well as 21,000 internet, 27,000 TV and 15,000 security and automation customer connections.

The company has reiterated its guidance for the year, and increased its quarterly dividend by 7% to C$0.4163 a share.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

May 09, 2025 07:20 ET (11:20 GMT)

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