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UPDATE 1-Canada's BCE posts better-than-expected profit

Published 2016-04-28, 07:29 a/m
© Reuters. UPDATE 1-Canada's BCE posts better-than-expected profit
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April 28 (Reuters) - Canadian telecom and media company BCE
Inc BCE.TO reported a slightly better-than-expected quarterly
profit as it added more wireless customers and earned more for
each one.
Bell, as the company is known to customers, is locked in a
fight for wireless market share with national rivals Rogers
Communications Inc RCIb.TO and Telus Corp T.TO as well as
smaller regional players.
The company said it added nearly 26,000 valuable postpaid
wireless customers in the seasonally weak first quarter. Rogers
added 14,000, and spent heavily to do so, it said last week.

BCE's blended average revenue per user increased by 3.6
percent to C$63.02, helped in part by a greater mix of
smartphone postpaid customers in the total subscriber base.
The company also said it was on track to meet its 2016
revenue growth target of 1 percent-3 percent and adjusted
earnings forecast of $3.45-$3.55 per share.
Net income attributable to shareholders rose to C$707
million ($562 million), or 82 Canadian cents a share, in the
period, from C$532 million, or 63 Canadian cents, a year
earlier.
On an adjusted basis, the company earned 85 cents per share.
Analysts on average had expected a profit of 84 Canadian cents
per share, according to Thomson Reuters I/B/E/S.
Operating revenue rose marginally to C$5.27 billion.
($1 = C$1.26)

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