Briefing

Telus stock dips despite strong first-quarter financials driven by data-services growth

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Telus reported higher profits, revenue and earnings per share in its first-quarter results, compared with its results from the same period a year ago. Part of the growth came from data services, in both the wireless and wired (like fibre optics) divisions. The company raised its shareholder dividend on the news, but the stock fell 0.97 per cent in late-afternoon trading. (The Logic)

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Talking point: Telus is no longer categorizing new customers by prepaid and postpaid, the latter of which analysts rely heavily on. Telus reported 11,000 new wireless customers, lagging behind the 38,282 for Bell, 48,000 for Freedom and 39,800 for Vidéotron. Regional players are generally outpacing the Big Three in new-customer sign-ups. However, Telus only counts mobile phone customers in that number. The company also signed up 49,000 connected devices that it’s counting in a separate category, including tablets, internet keys, wearables and connected automobile systems, according to Erin Dermer, director of media relations. In a piece of good news for Telus: the Canadian government is putting the decision on whether or not to ban Huawei on the back burner. Telus had previously warned that such a ban would pose a material risk to the company.