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TELUS (TU) Launches 5G Service in Alberta, Boosts Network

·3 min read

Canadian telecommunications company TELUS Corp. TU recently expanded its 5G network to Cochrane as part of its C$54 billion investment in Alberta through 2024.

The company continues to support the people of the province as they navigate the pandemic. With this service launch, residents and enterprises will have access to TELUS’ super-fast 5G network.

Working in partnership with equipment suppliers like Ericsson ERIC, Nokia NOK and Samsung, TELUS is expanding its 5G network to an additional 529 new communities across the country. It aims to cover more than 70% of the population by the end of this year.

TELUS has invested almost C$240 billion in network infrastructure, operations and spectrum across Canada since 2000. With speed of up to 1.7 Gbps, its 5G network provides greater capacity, ultra-low latency and edge computing.

In May 2021, TELUS announced plans to invest an additional C$14.5 billion in infrastructure and operations across Alberta through 2024. The investment is aimed at accelerating 5G deployments, augmenting the footprint of its PureFibre network to 530,000 more consumers belonging to the undeserved communities and creating employment opportunities.

The PureFibre network is built with state-of-the-art fiber optics, which enables customers to enjoy ultra-fast and high-capacity Internet connectivity.

The company is working to build a better future for the next generation through investments in innovative technologies and sustainable business practices. It expects to continue benefiting from strong customer growth in 2021.

TELUS’ shares have gained 34% in the past year compared with the industry’s growth of 10.6%.

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Zacks Investment Research

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The stock currently carries a Zacks Rank #3 (Hold).

A better-ranked stock in the broader sector is United States Cellular Corp. USM, carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

U.S. Cellular has a trailing four-quarter earnings surprise of 123.9%, on average.

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