BCE Q2 boosted by wireless and internet units

31 Jul 2003

Canada’s largest telecoms group BCE Inc [Toronto:BCE] has reported a profit of CAD461 million (USD332 million) for the second quarter of 2003, up from CAD6 million a year earlier. Revenues for the quarter stood at CAD4.9 billion, a marginal rise of 2.8% in three months. Net earnings for the core Bell Canada operating arm rose to CAD419 million from CAD361 million, while earnings at Bell Globemedia rose to CAD15 million from CAD11 million. E-commerce arm BCE Emergis reported a net profit of CAD6 million compared to losses of CAD62 million. The telco attributed the rise in profit to an increase in popularity in the wireless and internet segments. At the end of June BCE claimed to have a cellular customer base of 4.1 million, 13% up on the end of March. It also had 1.29 million DSL subscribers, a 42% rise, and 1.33 million satellite television customers, up 14%. On the other hand, BCE said revenues for the wholesale business sector had slipped 18% in the quarter due to failing businesses leading to reductions in demand. The telco said it does not expect to see any improvement in the sector before the end of the year.