Telus Stock Slides After Disappointing Q2 Results

Telus Corp. (NYSE: TU ) shares are tumbling Friday after the Canadian telecommunications giant delivered a second-quarter report that fell short on every major metric and unveiled a dividend reduction of more than half. Here’s what you should know. TELUS shares are approaching critical lows. What’s pressuring TU? A Double Miss and a 55% Dividend Cut Send Shares Lower Second-quarter earnings of 12 cents per share came in nearly 30% below the 17 cents the Street had anticipated and marked a 25% retreat from the 16 cents posted in the comparable period a year earlier. Revenue of $3.561 billion fell 5.3% short of the $3.760 billion consensus and declined 4% from the $3.71 billion generated twelve months prior. Total consolidated service revenue of $4.4 billion contracted 1% from the prior year as softness in the TELUS Digital business overshadowed modest gains in mobile networ...