BCE Inc 2Q Profit Almost Triples as Activity Rebounds from Pandemic

By Adriano Marchese

BCE Inc., formerly Bell Canada Enterprises Inc., on Thursday reported a nearly-tripled rise in second-quarter profit as consumer and commercial activity rebound from the Covid-19 pandemic.

The Canadian telecommunications company said earnings per share were 76 Canadian cents (61 cents), up from C$0.26 in the comparable quarter a year ago.

Net income nearly tripled to C$685 million, from C$237 million a year ago.

The company credits its gains to improving consumer and commercial activity as the economy rebounds from Covid-19 measures as well as lower year-over-year non-cash media asset impairment charges.

Adjusted earnings were C$0.83 a share. According to FactSet, analysts were expecting C$0.78 a share.

Operating revenue rose to C$5.7 billion from C$5.35 billion.

"In an increasingly positive investment climate and a background of renewed consumer confidence, wireless, residential Internet and media were especially strong," Chief Financial Officer Glen LeBlanc said.

Looking ahead, the company said it remains on track to meet its full-year targets.

Write to Adriano Marchese at [e-mail]

(END) Dow Jones Newswires

08-05-21 0826ET