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****Summary:** In the third quarter of 2025, TELUS Corporation reported consolidated operating revenues of $5.1 billion, remaining flat compared to the same period last year. Net income rose by 68% to $431 million, and basic earnings per share (EPS) increased to $0.32. Adjusted net income, however, fell by 10% to $370 million, with adjusted basic EPS decreasing to $0.24. During this quarter, TELUS welcomed an impressive addition of 288,000 net new customers, consisting of 82,000 mobile and 40,000 internet subscribers. The company's health segment demonstrated significant growth, with operating revenue increasing by 18% and adjusted EBITDA up by 24%, now covering over 160 million lives globally. TELUS generated $611 million in free cash flow, reflecting an 8% growth year-over-year, and increased its quarterly dividend by 4% to $0.4184 per share. Additionally, the company successfully completed the acquisition of the remaining interest in TELUS Digital, which is expected to create approximately $150 million in annual cash synergies. Looking ahead, TELUS anticipates that its operating revenue growth for 2025 will be at the lower end of its original forecast, with unchanged targets for adjusted EBITDA and free cash flow. The company continues to focus on enhancing customer experiences and expanding its service offerings, particularly in the health sector and digital customer solutions.

****Summary:** In the third quarter of 2025, AT&T reported revenues of $30.7 billion and net income of $9.7 billion, which includes a significant gain from the sale of its DIRECTV investment. The diluted earnings per share (EPS) was $1.29, compared to a loss of $(0.03) in the same quarter last year. The adjusted EPS remained stable at $0.54. The company experienced robust growth in its mobility services, generating $16.9 billion in revenues, an increase of 2.3% year-over-year. AT&T added 405,000 postpaid phone subscribers and reported a low churn rate of 0.92%, highlighting customer retention and demand for its services. Additionally, AT&T's fiber business saw continued success, adding 288,000 fiber subscribers and achieving 16.8% year-over-year growth in consumer fiber broadband revenues, totaling $2.2 billion. The company also managed to generate free cash flow of $4.9 billion, slightly up from $4.6 billion in the previous year. On the strategic front, AT&T announced a $5.75 billion acquisition of Lumen's fiber assets, expected to close in early 2026, and a significant $23 billion purchase of low-band and mid-band spectrum from EchoStar, aimed at enhancing its network capabilities across the U.S.

In the second quarter of 2025, AT&T reported revenues of $30.8 billion, an increase from $29.8 billion in the same quarter last year. The company achieved a net income of $4.9 billion, with earnings per share (EPS) of $0.62, compared to $0.49 a year ago. Adjusted EPS was $0.54, up from $0.51 in the prior year. During this quarter, AT&T added 401,000 postpaid phone subscribers, resulting in a churn rate of 0.87%. Mobility service revenues increased by 3.5% year over year, reaching $16.9 billion. The company also saw significant growth in its fiber broadband segment, with consumer fiber revenues up 18.9% to $2.1 billion. AT&T's cash from operating activities was $9.8 billion, up from $9.1 billion a year earlier. Capital expenditures for the quarter totaled $4.9 billion, and free cash flow was reported at $4.4 billion, compared to $4.0 billion in the same quarter last year. The company also repurchased approximately $1.0 billion in common shares. Looking ahead, AT&T expects to realize $6.5 to $8.0 billion in cash tax savings from the One Big Beautiful Bill Act, which will be reinvested into network improvements and accelerate fiber internet build-out. For the full year 2025, the company projects low-single-digit growth in consolidated service revenue and free cash flow in the low-to-mid $16 billion range.