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BCE Inc. Message Board

  • goldinvestmentmanagement goldinvestmentmanagement Nov 12, 2009 8:43 AM Flag

    BCE Inc. (BCE-T) says its profit more than doubled...

    Montreal โ€” The Canadian Press Published on Thursday, Nov. 12, 2009 7:18AM EST Last updated on Thursday, Nov. 12, 2009 7:54AM EST

    BCE Inc. (BCE-T) says its profit more than doubled during the third quarter on the favourable resolution of past tax positions, lower restructuring costs and fewer outstanding common shares.
    Canada's largest telecommunications company reported net income applicable to common shares of $558-million or 72 cents per share for the third quarter. That was up from a profit of $248-million or 31 cents per share last year.
    The company's operating revenue โ€“ primarily generated by Bell Canada โ€“ was $3.78-billion, up $40-million from $3.74-billion last year.
    BCE says its climbing revenues were partially offset by a decline at Bell Aliant (BA-T) , which saw sales slide by 3.2 per cent to $786-million due to lower local, long distance and equipment revenues.
    BCE says its positive results reflect continued progress in Bell's push to improve customer service, accelerate wireless, leverage wireline momentum, invest in broadband and achieve a competitive cost structure.
    Bell Wireless recorded 501,000 new subscribers during the quarter and saw its total net activations rise by 15 per cent due to the success of new handsets, services and applications.
    BCE also confirmed its increased financial outlook for the year, which in August had expected revenue growth between 1 and 2 per cent.

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