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- BCE, Inc (NYSE: BCE) reported third-quarter FY22 operating revenue growth of 3.2% year-on-year to CA$6.02 billion.
- The company attributed the performance to a 1.8% increase in service revenue to CA$5.19 billion, reflecting robust wireless, residential Internet growth.
- Product revenue increased 12.8% Y/Y to CA$831 million.
- Total wireless operating revenue increased 7.4% Y/Y to CA$2.47 billion due to solid service revenue growth.
- Total wireline operating revenue rose by 1% Y/Y to CA$3.05 billion.
- Media operating revenue was flat Y/Y at CA$719 million, as higher subscriber revenue was offset by lower year-over-year advertising revenue.
- Adjusted EBITDA rose 1.2% Y/Y to CA$2.59 billion, driven by Bell Wireless.
- The adjusted EBITDA margin contracted 80 bps to 43% due to cost pressures, subscriber acquisition, and an increase in low-margin product sales.
- Adjusted EPS was CA$0.88.
- BCE generated CA$2 billion in operating cash flow.
- Dividend: The board declared a quarterly dividend of CA$0.92 per share.
- Outlook: BCE reiterated all FY22 financial guidance targets. It expects revenue growth of 1% – 5% and adjusted EPS growth of 2% – 7%.
- Price Action: BCE shares are trading lower by 0.56% at $44.79 on the last check Thursday.
- Photo Via Company
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