Canadian Telecom Giants Report Mixed Q3 2026 Subscriber Growth
Telus and Quebecor see subscriber gains while Rogers and Bell face market headwinds.
1Q3 Telecom Performance Overview
Canada's four major telecommunications providers released their Q3 2026 earnings reports this week, revealing diverging growth trajectories. While Telus and Quebecor reported notable subscriber gains, Rogers and Bell faced significant challenges in maintaining their momentum. These results highlight a shifting competitive landscape within the Canadian mobile and internet service provider market.
2Telus Financial Restructuring Plan
Telus reported a net loss of $660 million this quarter, primarily due to a non-cash goodwill impairment linked to its health division. To offset these financial pressures, the company announced a new savings initiative. This strategic plan aims to generate approximately $900 million in cost savings by the end of 2028.
3Telus Mobile Subscriber Gains
Despite broader financial losses, Telus saw positive growth in its core telecom operations. The company added 84,000 net mobile subscribers, pushing its total mobile base to 10.4 million users. Additionally, connected devices grew by 22 percent to 5.1 million, while internet subscribers increased by 2 percent to reach 2.8 million total.
4Rogers Faces Subscriber Slowdown
Rogers reported total revenue of $5.4 billion, but wireless service revenue dipped 1 percent compared to last year. The company added only 17,000 net mobile subscribers, a sharp decline from the 62,000 added in Q3 2025. Rogers attributed these difficulties partly to CRTC regulations that banned certain customer service fees.
5Bell Earnings and Customer Trends
Bell achieved $6.1 billion in net operating revenue, a 2.2 percent increase, yet net earnings fell to $701 million. This decline was linked to lower investment gains following the MLSE sale. Subscriber data showed mixed results, with postpaid customers rising 1.1 percent while prepaid customer numbers dropped by 8.3 percent.
6Quebecor Records Record Growth
Quebecor achieved its largest quarterly increase in mobile lines since launching services in 2010, adding 136,700 lines. This performance surpassed the 113,800 additions reported in the same period last year. CEO Pierre Karl Peladeau credited the combined success of the Videotron, Fizz, and Freedom brands for driving this significant telecom segment growth.
7Internet and Video Market Shifts
The broader internet market showed signs of cooling for established players. Bell reported adding 8,163 fewer fibre optic customers compared to Q3 2025. Furthermore, Bell experienced a net loss of 5,328 video subscribers, a steeper decline than the 1,609 losses recorded during the same quarter in the previous fiscal year.
8Strategic Implications for Providers
The Q3 results underscore a period of intense volatility for Canadian telecom firms. While smaller players like Quebecor are capturing market share, incumbents are grappling with regulatory constraints and shifting consumer demand. Investors and analysts are now closely watching how these companies balance cost-cutting measures with the need for subscriber retention.
Original article: MobileSyrup — Canadian Telecom Giants Report Mixed Q3 2026 Subscriber Growth