BCE Inc. Saw Profit Slip In The Second Quarter As Revenue Grew

BCE Inc. Saw Profit Slip In The Second Quarter As Revenue Grew

The Canadian Press – Canadian Press – Thu Aug 4, 7:24AM CDT

MONTREAL — BCE Inc. is reporting profit slipped in the second quarter as revenue grew.

The company’s second quarter results released Thursday show its profit attributable to common shareholders totalled $596 million or 66 cents per share for the quarter ended June 30, down from $685 million or 76 cents per share a year earlier.

Operating revenue totalled $5.86 billion, up from $5.70 billion in the same period last year.

On an adjusted basis, the telecom giant said it earned 87 cents per share in its latest quarter, up from an adjusted profit of 83 cents per share a year earlier.

Wireless revenue rose to $2.24 billion compared with $2.13 billion a year ago, while wireline revenue dropped to $2.99 billion from $3 billion. Bell Media revenue totalled $821 million, up from $755 million in the same quarter last year.

BCE CEO Mirko Bibic says the company continues to see momentum in its wireless business, with 110,761 mobile phone net subscriber activations in the second quarter. Retail internet net activations were also up 27.9 per cent.

This report by The Canadian Press was first published Aug.4, 2022.