TELUS Reports Q3 2026 Results with Declining Revenue and Significant Goodwill Impairment
TELUS (TU) reported third-quarter 2026 financial results characterized by a decline in consolidated service revenue to $4.5 billion, representing a 1% year-over-year decrease. The downturn was primarily driven by an 11% drop in TELUS Digital service revenue following volume reductions from two hyperscale clients. Additionally, the company recorded a significant $800 million non-cash goodwill impairment charge related to its TELUS Health business due to revised growth expectations. Despite these headwinds, the company saw strength in mobile phone net additions (84,000) and connected device additions (289,000). Management is pivoting toward a long-term efficiency program targeting $900 million in annualized cash savings by 2028. To support this transformation and infrastructure needs, TELUS has increased its capital expenditures by 8% and revised upward its full-year restructuring costs to $900 million.
Tickers: $TU
Topics: digital services performance earnings report efficiency program goodwill impairment telecom subscriber growth