BCE Clocks 4% Revenue Growth In Q4 Driven By Wireless Momentum, Boosts FY23 Dividend

  • BCE Inc (NYSEBCE) reported fourth-quarter FY22 operating revenue growth of 3.7% year-on-year to C$6.44 billion.
  • The company attributed the performance to a 2.1% increase in service revenue to C$5.35 billion, reflecting robust wireless, residential Internet growth.
  • Product revenue increased 12.4% Y/Y to C$1.09 billion.
  • Total wireless operating revenue increased 7.7% Y/Y to C$ 2.67 billion due to solid service revenue growth.
  • Total wireline operating revenue rose by 0.5% Y/Y to C$3.09 billion.
  • Media operating revenue grew by 4.7% Y/Y to C$889 million, driven by a higher subscriber and advertising revenue.
  • Adjusted EBITDA rose 0.3% Y/Y to C$2.44 billion, driven by Bell Wireless. 
  • The adjusted EBITDA margin declined 129 bps to 37.8%.
  • Adjusted EPS was C$0.71.
  • BCE generated C$376 million in free cash flow.
  • Dividend: The board boosted the FY23 dividend per share by 5.2% to C$3.87 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 closed higher by 0.63% at $47.60 on Wednesday.
Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceDividendsBriefs
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!