BCE Clocks 3.2% Revenue Growth In Q3 Backed By Wireless, Residential Internet Growth

  • BCE, Inc (NYSEBCE) 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
Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceTechBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!