The big four Canadian telecom providers revealed their Q3 earnings this week, and I’ll do a quick rundown of how they did, which companies are up, which are down, and what their numbers look like.
Telus
Let’s start with Telus. In its Q3 earnings report released today, the company reported a net loss of $660 million, driven primarily by a non-cash goodwill impairment related to Telus Health. With this in mind, the company has announced a new savings plan that it says will save about $900 million by the end of 2028.
On subscribers, the company said mobile service revenue rose 1 percent, driven by a net gain of 84,000 subscribers and stable ARPU. Along with this, Telus noted that mobile subscribers increased 1 percent to 10.4 million, its connected devices increased 22 percent to 5.1 million, and its Internet subscribers increased 2 percent to 2.8 million.
Rogers
Now, Rogers has had quite an interesting year financially, largely due to the purchase of MLSE. The company reported total revenue of $5.4 billion this quarter; however, wireless service revenue ($2.688 billion) was down 1% from last year, and it blames the CRTC for banning certain fees.
Rogers also reported net 17,000 mobile subscriber additions, down from 62,000 in Q3 2025. The company’s total net internet additions totaled 10,000, down from 29,000 a year earlier.
Bell
Let’s switch to Bell. The company reported net operating income of $6.1 billion in Q3 2026 (up 2.2 percent), but also noted net profit of only $701 million, which it attributed to lower gains on investments from the MLSE sale.
The shift to subscriber numbers has Bell reported a total of 10.4 million mobile phone customers, with 9.6 million postpaid (up 1.1 percent, and just over 800,000 prepaid customers (down 8.3 percent). Year video-wise, Bell reported losses of 5,328 subscribers, compared to only 1,609 last year.
Quebecor
Finally, let’s talk about Quebecor, the owner of freedom. The company reported that its telecom segment grew by $51.4 million, including $43.1 million in revenue growth from its mobile services and $9.3 million from its Internet services.
The company also added 136,700 cell phone lines (up from 113,800 last year), which it says is the biggest quarterly increase since it launched mobile services in 2010. Quebecor CEO Pierre Karl Peladeau says Videotron, Fizz and Freedom all contributed to the success.