TELUS 2025 Q1 Earnings: Contradictions in Dividend Strategy, ARPU, and Health Monetization

Dividend growth strategy and DRIP discount reduction, ARPU and wireless market strategy, wireless handset subsidy strategy, TELUS Health monetization strategy, TELUS Digital privatization and long-term value are the key contradictions discussed in TELUS's latest 2025Q1 earnings call.



Financial Performance and Customer Growth:
- TELUS Corporation achieved industry-leading customer growth in Q1 2025, with 218,000 net additions, driven by both mobile and fixed customer segments.
- The growth was supported by strong demand for integrated product offerings across mobile and home, powered by leading PureFibre and wireless broadband networks.

Record Connected Device Additions:
- The company recorded record Q1 connected device net additions of 148,000, contributing to mobile net additions of 168,000.
- This was driven by economic margin accretive customer growth strategies, with consistent industry-leading lifetime revenue underpinned by low churn rates.

Wireless Service Revenue Decline:
- TELUS's mobile network revenue saw a 3.7% decline in ARPU, mainly due to ongoing competitive pressures and lower roaming.
- Challenges were addressed by focusing on product intensity, bundling capabilities, improving retention, and leveraging AI for revenue management and predictive models.

TELUS Health and Digital Growth:
- TELUS Health achieved 12% revenue and 30% EBITDA growth, with a 7% increase in global lives covered to 76.5 million.
- Growth was driven by acquisitions, product enhancements, expanding sales channels, and effective cost management through technology and synergy optimization.