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BCE Registers 3% Revenue Growth In Q2 Aided By Robust Wireless, Residential Internet And Media Growth

  • BCE, Inc (NYSE: BCE) reported second-quarter FY22 operating revenue growth of 2.9% year-on-year to C$5.86 billion.

  • The company attributed the performance to a 3.8% increase in service revenue to C$5.23 billion, reflecting robust wireless, residential Internet, and media growth.

  • Product revenue decreased 4.6% Y/Y to C$628 million due to fewer mobile device transactions and lower business wireline data equipment sales.

  • Total wireless operating revenue increased 5.5% Y/Y to C$2.25 billion due to solid service revenue growth.

  • Total wireline operating revenue declined 0.3% Y/Y to C$2.995 billion.

  • Media operating revenue increased 8.7% to C$821 million, driven primarily by higher advertising and subscriber revenue.

  • Adjusted EBITDA rose 4.6% Y/Y to C$2.59 billion, driven by Bell's operating segments.

  • The adjusted EBITDA margin expanded 70 bps to 44.2% due to the flow-through impact of higher service revenue and a decline in low-margin product sales.

  • Adjusted EPS was C$0.87.

  • BCE generated C$2.6 billion in operating cash flow.

  • Dividend: The board declared a quarterly dividend of C$0.92 per share.

  • Outlook: BCE reiterated all FY22 financial guidance targets.

  • Price Action: BCE shares are trading higher by 0.48% at $49.92 on the last check Thursday.

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