Bell Canada Reports Q2 2018 Results: Substantial Subscriber Growth, Profit Declines

Bell Canada has announced their second quarter results for 2018. The carrier’s saw wireless subscriber growth that beat analyst estimates.

The company saw an additional 122,092 wireless subscribers, which gives them the best second quarter result in almost two decades. Other major growth areas for the company include internet and IPTV, where a total of 154,000 subscribers were added during the second quarter.

Bell also added about 47,000 customers to its FTTH footprint, helping grow its business segment. Bell’s fibre-to-the-home deployment means that it able to provide its most advanced wireless service to 88 percent of Toronto’s core by the end of this year. In a statement, the company’s chief executive George Cope said:

“A positive of this is that any client who has purchased our fibre product over the last couple of years will not require a change in the modem, they’ll be able to just go through an upgrade in speed.”

In terms of profit, Bell Canada’s net income was $705 million, or 79 cents per share. This was down from $765 million, or 85 cents per share, in last year’s second quarter and below analyst estimates of 88 cents per share.

Chief financial officer Glen LeBlanc said the earnings per share were down because of operating losses at some of BCE’s minority equity investments.

[via Financial Post]

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