Bell announced its Q2 2023 results on Thursday, achieving a milestone in wireless and mobile phone activations.
In a quarter marked by strong performance in the mobile division, Bell posted a 76.5% increase in total wireless mobile phone and mobile connected device activations it said.
Wireless service revenue saw growth of 4.4% in Q2 2023, driven by a 33.8% increase in postpaid net activations to 111,282, the highest in 18 years for the second quarter. Mobile connected device net activations also saw growth, now up to 79,537.
Mobile phone blended average revenue per user (essentially the average wireless phone bill) was at $59.16, compared to $59.17 in the year-ago quarter. That’s down 1 penny year-over-year.
Despite the standout performance in the wireless and mobile sectors, Bell’s overall results were not without challenges. Net earnings fell by 39.3% to $397 million, and adjusted net earnings yielded a 9.2% decrease in adjusted earnings per share (EPS) to $0.79. Cash flows from operating activities were also down 8.9% to $2,365 million.
“We surpassed a milestone of 10 million mobile phone subscribers, with service revenue up 4.4% on our highest Q2 postpaid net activations in 18 years. And we achieved these results against the backdrop of declining prices, demonstrating that our industry is delivering the highest quality services at decreasing prices, despite persistent inflation,” said Mirko Bibic, President and CEO of BCE and Bell Canada in a statement.
Earlier this week, Bell’s flanker brand Virgin Plus launched 5G plans, matching Videotron’s Freedom Mobile and the latter’s debut of 5G services.
