BCE brought in $294 million in the second quarter, compared with $817 million in the same quarter in 2019. Net earnings per share fell 69 per cent, from 85 cents per share to 26 cents per share. (The Logic)
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BCE brought in $294 million in the second quarter, compared with $817 million in the same quarter in 2019. Net earnings per share fell 69 per cent, from 85 cents per share to 26 cents per share. (The Logic)
Talking point: BCE’s results fell below analyst expectations, but CEO Mirko Bibic pointed to strong cash flow, which was up 22.4 per cent, as reason for optimism. Bibic said his firm will maintain its dividend and capital spending, and that financial performance will improve in the third quarter. BCE has the largest exposure to enterprise revenue, which is partially dragging down its results compared to those of Rogers and Telus. Revenue from its wireline division, which includes its Fibe TV, Internet and home phone offerings, dropped 5.3 per cent due to a decline in data-equipment sales. BCE also posted a $452-million impairment charge for the value of its television and radio services, which it attributed to the decline in advertising demand due to the pandemic.
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