Welcome to our dedicated page for Telus news (Ticker: TU), a resource for investors and traders seeking the latest updates and insights on Telus stock.
TELUS Corporation reports developments across a Canadian communications technology business that provides wireless, internet, television and landline phone services, with incumbent wireline operations in British Columbia and Alberta and a smaller wireline presence in eastern Quebec. News also reflects its non-telecom businesses, including TELUS Digital, TELUS Health and TELUS Agriculture & Consumer Goods.
Recurring TELUS updates include operating and financial results, dividend declarations, debt and capital-structure actions, annual meeting governance matters and leadership changes. Company and partner announcements also cover digital customer experience, AI data services, trust and safety solutions, broadband service capabilities and technology partnerships tied to connectivity and enterprise services.
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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