BCE Inc. (TSE:BCE) reported third-quarter profit of $752 million
The seemingly endless demand for wireless services got credit for the bulk of BCE Inc.‘s (TSE:BCE) growth this quarter, a period in which the telecom giant moved to appeal to people who want new ways to consume its traditional television service.
Canada’s largest telecommunications and media company, BCE Inc., on Thursday reported third-quarter profit of $752 million, up 1.8 per cent from this period last year. Earnings per common share remained stable at 87 cents per share in results that fell largely in line with Bay Street’s expectations.
Surprising strength in the wireless segment — Bell added 107,000 wireless subscribers, beating analysts expectations by more than 23,000 — continues to make up for the challenging wireline business, in which IPTV and Internet adds were sluggish compared to this period last year. More than 118,000 subscribers cut their telephone lines.
But it’s not all bad on the broadcast front. The telecom giant’s video streaming service CraveTV topped one million subscribers, hitting the milestone as its competitor Shomi prepares to fold at the end of November.
Bell also announced it will make its television service available through an app on Apple TV, making it the first major TV provider in Canada to slightly relax its iron grip on distributing TV solely through its own set-top box ecosystem. U.S. providers have been reluctant to do this over fears their set-top boxes will be less lucrative.
Read the full article at: business.financialpost.com