Bell Media Parent BCE Inc. Revenues, Earnings Rise For Third Quarter

Q3

BCE INC., parent company of CANADA's BELL MEDIA, saw third quarter 2018 revenue grew 3.2% year-to-year to C$5.877 billion, with Adjusted Net Earnings up 4.5% to C$861 million but free cash flow down 14.3% to $1.014 billion.  As for BELL MEDIA, overall revenue increased 1.1% to C$731 million, credited to increases in advertising revenue (helped by WORLD CUP sales) and subscriber fees; radio revenue was not broken out in the earnings release.

"Powered by CANADA's most advanced fibre and wireless networks, Bell led the industry in Q3 broadband growth as we welcomed 266,000 wireless, Internet and IPTV customers, 41.5% more than in Q3 2017. BELL's strategy of broadband network investment, ongoing service improvement and efficient operation is delivering leading results in the marketplace, stronger organic financial performance and service innovation across all of our business segments," said BCE and BELL CANADA President and CEO GEORGE COPE. "CANADA's best national mobile network delivered BELL's highest number of wireless net additions ever in a third quarter, including accelerating growth in our LUCKY MOBILE prepaid brand and our highest number of postpaid net additions since 2012. Market-leading wireline broadband growth of 88,000 Internet and IPTV net subscriber additions and a strong performance by BELL BUSINESS MARKETS reflect the unsurpassed speed and quality of our growing high-speed fibre network for both consumers and business customers. And with continued leadership in conventional, pay and specialty TV, including #1 sports channel TSN, BELL MEDIA delivered positive revenue in a traditionally slow quarter while leading the way in content creation and innovation across new media platforms."

"We performed well across all BELL operating segments in Q3, posting another solid quarter of financial and operating results with record wireless subscriber results, a stronger wireline revenue growth trajectory, improved media top-line performance and cost discipline driving higher adjusted EBITDA in line with guidance for the year," said CFO GLEN LEBLANC. "We remain competitively well positioned as we move forward in Q4, with strong momentum across our wireless and residential wireline operations and market-leading media assets generating strong and reliable cash flow. Growth opportunities ahead from business performance, continued capital and cost efficiency gains, additional MTS-related tax benefits and a stronger pension solvency position provide a solid foundation for continued execution of our dividend growth objective. With no fundamental changes in outlook, I am pleased to reconfirm all our financial guidance targets for 2018."

The company's Board of Directors also declared a quarterly dividend of 75.5 cents/common share, payable JANUARY 15th to shareholders of record as of DECEMBER 14th.

« see more Net News