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TELUS (TU) Continues to Expand 5G Footprint in British Columbia

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TELUS Corporation (TU - Free Report) has expanded its 5G network to Richmond as part of its C$13 billion investment in infrastructure and operations in British Columbia through 2024.

The communications technology company continues to support the citizens of the province with digital solutions as they navigate the pandemic.

Since 2000, TELUS has invested almost C$240 billion in network infrastructure, operations, and spectrum across Canada, with more than C$47 billion in British Columbia.

With this service expansion, residents and businesses will have access to TELUS’ superfast 5G network, which will contribute to their social and economic prosperity.

Other locations in British Columbia where TELUS recently extended its 5G service include Fort St. James, Parksville and Qualicum Beach, Port Hardy, and Bulkley-Nechako and Houston.

In the past year, TELUS’ shares have gained 26.7% compared with the industry’s growth of 19.2%.

Zacks Investment ResearchImage Source: Zacks Investment Research

TELUS is expanding its 5G network to 529 new communities across the country. It intends to make 5G accessible to more than 70% of Canada’s population by the end of 2021.

5G offers much more capabilities than 4G networks, including increased capacity, ultra-low latency, and edge computing. It is estimated that 5G will create 250,000 jobs and contribute C$150 billion to Canada’s economy over the next 20 years.

TELUS continues to benefit from strong customer additions, thanks to the adoption of its superior connected experiences, innovative product set, and premium bundled offerings. The accelerated broadband expansion program is likely to further extend its PureFibre and 5G coverage.

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

Some better-ranked stocks in the broader sector are Nokia Corp. (NOK - Free Report) , Qualcomm, Inc. (QCOM - Free Report) , and InterDigital, Inc. (IDCC - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Nokia delivered a trailing four-quarter earnings surprise of 202.7%, on average.

Qualcomm pulled off a trailing four-quarter earnings surprise of 13.5%, on average.

InterDigital delivered a trailing four-quarter earnings surprise of 536%, on average.