Continued operating momentum in TELUS’ high growth, technology-oriented verticals is recorded for the first quarter of 2022, with strong double-digit revenue growth across TELUS International, TELUS Health, and TELUS Agriculture.
Darren Entwistle, president and CEO, stated, “TELUS’ ongoing execution excellence continues to be characterized by the consistent combination of industry-leading and profitable customer growth, yielding strong financial results across our business.”
The Canadian-based operator’s consolidated operating revenues and other income has shown a YoY growth of 6.4%, increasing to almost $4.3 billion. The company’s net income also surged by 21%, up from Q1 2021’s $333 million to Q1 2022’s $404 million. A strong, free cash flow growth of 29% was also documented.
Accordingly, the industry leader’s total mobile and fixed customer growth of 148,000 represents the strongest first quarter on record, reflecting robust demand for superior bundled offerings over world-leading broadband networks and leading customer loyalty results. Since the beginning of 2020, TELUS has welcomed an industry-leading 1.9 million net customers, including 1.3 million mobile and more than 550,000 fixed net additions.
Notably, TELUS International is currently positioned as a leading partner of choice for premier digital customer experiences and IT services for its enviable list of clients around the world. TELUS Health continues to meaningfully scale healthcare programs covering 22 million lives, a YoY increase of over 25%. And TELUS Agriculture’s services revenue is also up by 37% over the same period last year as a result of ongoing efforts to integrate and grow this unique global business.
Doug French, EVP and CFO, also commented, “Building on the momentum established over the past several years, our results demonstrate our team’s ability to successfully deliver strong operating and financial growth, including delivering industry-leading consolidated revenue growth on a consistent basis over the last 12, 24, and 36 months. This growth is being realized from our smart, generational investments which are further advancing our network leadership and consistently supporting profitable customer growth.”
