BCE profit rises $556M, revenue almost unchanged

BCE Inc. has reported at 6.6% increase in net earnings in the first quarter, although revenue remained almost unchanged year over year. Canada’s largest communications company says net earnings attributable to common shareholders were $566 million or 73 cents per share, up from $531 million or 69 cents in the same 2012 period. Revenue rose […]

BCE Inc. has reported at 6.6% increase in net earnings in the first quarter, although revenue remained almost unchanged year over year.

Canada’s largest communications company says net earnings attributable to common shareholders were $566 million or 73 cents per share, up from $531 million or 69 cents in the same 2012 period.

Revenue rose to $4.34 billion from $4.33 billion, a 0.3% increase driven mainly by a 1.3% increase in wireless, TV, internet, media and business services such as data hosting and cloud computing.

Adjusted net earnings increased 11.5% to $599 million or 77 cents per share, from $537 million or 69 cents per share.

“Industry-leading investment in next-generation networks and services continues to drive Bell’s transformation,” president and CEO George Cope said in a statement.

“With the Bell team’s focused execution of our six strategic imperatives, our operating mix is increasingly dominated by wireless, TV, media and Internet growth services (which) now representing more than 80% of Bell’s revenue.”

At its annual general meeting Thursday, BCE said it hopes to reduce costs by $170 million this year by putting pressure on external vendors and switching more customers to electronic billing.

That’s on top of $1.5 billion in cost reductions last year.

“We have had to change our cost structure and it has been painful,” Cope told shareholders.

The company says growing its media operations, investing in new technologies such as mobile banking and increasing its customer base are some of its goals as it adapts to a quickly changing market.

Media Articles

Bloomberg to launch Canadian business TV channel

Channel helps feed Canadians' increased desire for financial news coverage

Upstart services elbowing aside traditional satellite and cable

Latest from MTM shows nearly half of Anglo-Canadians watching TV content online

Trader taps Co-Op Advertising for creative assignment

A new creative platform is rolling out this week

M2 lands Sky Zone trampoline assignment

Multi-media campaign debuts next week

CarPages.ca taps Mediative for online sales

Company now represents more than 18 publishers spanning over 40 websites

W Network launches online extensions

W Dish and W View intended to appeal to younger audiences

Oscar ratings tumble for CTV

Sunday's telecast attracts 5.2 million viewers, down from 6.12 million

EOne launches Canada’s first Instagram video campaign

Promotion for 'Insurgent' will feature exclusive content targeting teens