The Vancouver-based telco’s adjusted earnings increased seven per cent from the same quarter the year before. The financial pattern is similar to recent earnings reports from its national competitors BCE and Rogers: higher revenue from mobile-phone services making up for lower revenue from sales of new phones. (The Logic)
Talking point: Though wireless and wired phone, internet and television services are still the bulk of Telus’s business, its Telus Health and Telus Agriculture side hustles posted double-digit growth. Telus Health had 3.3 million virtual-care patients in the quarter, up from two million the year before, and posted a revenue increase of 13.8 per cent; Telus Agriculture (which offers digitally assisted services like crop monitoring and feedlot management) saw its revenues increase 37.1 per cent. CEO Darren Entwistle has previously hinted at a plan to spin them off, as it did customer-service segment Telus International.