Canada's Largest Telecommunications Company, BCE Inc. Beats Q1 Profit Estimates

Written by BNN.ca

Canada’s largest telecommunications company, BCE, Inc. (NYSE: BCE ), reported a better-than-expected first quarter profit on Wednesday, driven by an increase in net postpaid subscribers.

BCE, Inc., popularly known as Bell noted that,

it added 35,728 postpaid customers on a net basis in the first quarter, more than the 30,000 additions that analysts at Cannacord Genuity had expected.

Rogers Communications Inc. (RCIb.TO), against whom BCE competes in wireless as well as for television and internet customers, added 60,000 net postpaid wireless subscribers in the first quarter.
The third major national wireless player, Telus Corp (T.TO), is due to report earnings on May 11.

it added 22,402 customers in its Fibe TV business and

it added 14,989 customers in its high-speed internet segment but

lost 38,065 satellite TV customers during the quarter.

Net income attributable to the company’s shareholders fell 4% to $679 million, or 78 cents per share, hurt by costs related to its acquisition of Manitoba Telecom Services.

it earned 87 Canadian cents per share, excluding one-time items, beating the average analyst estimate of 83 Canadian cents.

operating revenue rose 2.2% to $5.38 billion.

it’s postpaid customers paid $65.66 a month in the quarter ended March 31, up 4.2% from a year earlier.

BNN is a division of Bell Media, which is owned by BCE.