Investing.com - Financial Markets Worldwide
🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

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
RCI
-
BCE
-
T
-

(Adds details)
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)

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.