Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🤑 This hedge fund gained 26.16% in the last month. Get their top stocks with our free stock ideas tool.See stock ideas

UPDATE 1-Profit at Canada's BCE powered by wireless growth

Published 2015-08-06, 07:43 a/m
UPDATE 1-Profit at Canada's BCE powered by wireless growth
RCI
-
BCE
-

(Adds details from statement, analyst comment)
TORONTO, Aug 6 (Reuters) - BCE Inc BCE.TO posted a 25
percent jump in second-quarter profit as its mobile business
grew, offsetting lower advertising revenue at its media arm,
Canada's largest telecommunications company said on Thursday.
Bell, as the company is known to customers, added more than
61,000 postpaid wireless customers, who typically spend more
than those who prepay for service, it said.
Wireless market leader Rogers Communications Inc RCIb.TO
last month added 24,000 such customers after two quarters of net
defections.
Montreal-based Bell reported net income attributable to
shareholders of C$759 million, or 90 Canadian cents a share.
That compared with a year-earlier profit of C$606 million, or 78
Canadian cents. Revenue rose 2 percent to C$5.33 billion.
Excluding investment losses, severance, acquisition and
other costs, profit was 87 Canadian cents a share, up from 82
cents a year earlier and in line with analyst expectations,
according to Thomson Reuters I/B/E/S.
Bell added 18,606 net Internet connections and signed up
more than 50,000 customers for its Internet-based TV product. It
shed close to 34,000 satellite TV customers amid tough
competition.
"Most financial and operating metrics met our expectations
and consensus in what is a seasonally weaker quarter," RBC
Capital Market analyst Drew McReynolds wrote in a note.
BCE said Bell Media`s advertising revenue was hit by the
loss of broadcast rights for the National Hockey League
playoffs, tougher competition in social media, and broad
softness in the conventional TV market.

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.