BCE achieves 2.8% revenue rise in Q1

Canada’s largest telecoms group BCE has reported its financial results for the first quarter of 2015, noting that significant growth at Bell Wireless and improved year-on-year performance at Bell Wireline and Bell Media delivered revenue and adjusted EBITDA growth of 2.8% and 3.6%, respectively. BCE reported Q1 2015 net earnings attributable to common shareholders of CAD532 million (USD441.5 million), down from CAD615 million in Q1 last year, due to higher severance, acquisition and other costs linked largely to a one-time charge of CAD137 million for a litigation related to satellite TV signal piracy. Adjusted net earnings were CAD705 million in 1Q15, up from CAD626 million last year, reflecting a 3.6% adjusted EBITDA increase to CAD2.094 billion, reduced non-controlling interest as a result of the Bell Aliant privatisation, and lower income taxes. BCE’s quarterly total operating revenues climbed 2.8% year-on-year to CAD5.240 billion in January-March 2015. BCE also announced it plans to invest CAD20 billion in capital from 2015 to the end of 2020, notably in rolling out ‘advanced fibre and mobile networks that are driving growth in wireless, internet, TV and media’.