Welcome to our dedicated page for Telus Corporation news (Ticker: TU), a resource for investors and traders seeking the latest updates and insights on Telus Corporation stock.
Telus Corporation (TSX: T, NYSE: TU) is Canada’s fastest-growing national telecommunications company, boasting an impressive $12.3 billion in annual revenue and over 13.9 million customer connections. These include 8.4 million wireless subscribers, 3.1 million wireline network access lines, 1.5 million high-speed internet subscribers, and 954,000 Telus TV customers. The company provides a diverse array of communication services and products, from wireless and data to Internet Protocol (IP), voice, television, entertainment, and video services. Notably, Telus is also Canada’s largest healthcare IT provider, a testament to its broad industry impact.
With an economic stake of 55% in Telus International, Telus has expanded its horizon beyond telecom into health, security, and agriculture sectors. Its international endeavors contribute to more than 20% of its sales, driven by recent acquisitions and an aggressive growth strategy.
Recent Achievements: On November 3, 2023, Telus announced its third-quarter results showcasing robust performance, especially in its core telecom business. The strong financial position was further bolstered by cost efficiency initiatives that aim to drive EBITDA expansion and cash flow growth. This strong performance supports their leading dividend growth program, which has been extended through to 2025.
Current Projects: Telus continues to innovate by offering enticing service bundles. Recently, Telus introduced Stream+, a new service package that includes Prime Video, Amazon Prime membership, and more, aiming to provide customers with a comprehensive entertainment experience.
Financial Condition: Telus achieved record customer growth in Q4 2023, driven by strong demand for its mobility and fixed services. Their capital expenditures and free cash flow have also shown a positive trajectory, reflecting a robust balance sheet.
Partnerships: The company recently entered a partnership with Vevo to expand their advertising reach in Canada, offering advertisers access to Vevo’s extensive music video content across major streaming platforms like YouTube, Apple TV, and Roku.
Significance: Telus's industry-leading customer service and strong financial strategies make it a noteworthy player in the global telecommunications landscape. Their focus on leveraging technology to drive social change and improve human outcomes sets them apart as a forward-thinking, socially responsible corporation.
For more information, please visit telus.com.
Magnite (NASDAQ: MGNI), the largest independent sell-side advertising company, has been chosen by TELUS (TSX: T) (NYSE: TU) as its preferred ad technology solutions partner in Canada. TELUS will utilize Magnite's SpringServe ad server and Streaming SSP for its Free Ad-Supported TV (FAST) and online video advertising inventory. This partnership aligns with the growing trend of ad-supported streaming, as 74% of Canadian consumers now watch streaming TV. The collaboration aims to enhance TELUS's TV offerings at no additional cost to customers, while providing advertisers with better insights and control over their campaigns.
Magnite's technology will allow TELUS to manage and monetize its connected TV (CTV) inventory more effectively. TELUS has already deployed FAST channels like TIME, Tastemade, and The Washington Post to its TV+ customers, offering new opportunities for advertisers and agencies to connect with audiences. Both companies are excited about the potential to redefine the Canadian advertising landscape and deliver premium ad experiences to consumers and brands alike.
TELUS announced the election of directors at its annual meeting. The 14 nominees proposed by management were elected, with high percentages of votes in favor for each director. The detailed voting results were disclosed, showing strong support from shareholders.
Telus CEO, Darren Entwistle, has decided to receive his salary in shares indefinitely, reflecting his confidence in the company's financial health, long-term strategy, and the team's skill. This decision comes after Telus reported industry-leading customer additions and solid financial results. Entwistle's move demonstrates his alignment with shareholders and past practice of investing significantly in Telus shares.
TELUS International reported its first quarter 2024 results, showing revenue of $657 million, net income of $28 million, and diluted EPS of $0.05. The company maintained profitability and strong cash flows despite economic pressures, with adjusted EBITDA increasing by 9%. The team member count decreased by 3% year-over-year. The outlook for 2024 includes revenue growth of 3% to 5%, adjusted EBITDA growth of 7% to 10%, and adjusted diluted EPS growth of 7% to 13%.
TELUS reported strong operational and financial results for the first quarter of 2024, with total mobile and fixed customer growth of 209,000, a record first quarter. Notable highlights include robust net additions across mobile phones, connected devices, and fixed services, resulting in revenue growth. The company raised its dividend by 7.0%, reiterated its 2024 financial targets, and remains committed to delivering value to shareholders. Despite a decline in operating revenues, TELUS demonstrated resilience in a competitive environment.
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