New subs power BCE

Article Excerpt

BCE INC., $60.53, is a buy. The company (Toronto symbol BCE; Shares outstanding: 911.9 million; Market cap: $55.2 billion; TSINetwork Rating: Above Average; Dividend yield: 6.1%) continues to benefit from strong demand for mobile phone service due to the launch of new smartphones and the expansion of its ultrafast 5G wireless networks. BCE added 167,798 new wireless subscribers (net of cancellations) under long-term contracts during the quarter ended September 30, 2022, up 46.1% from 114,821 a year earlier. The company also added 89,652 (net) high-speed Internet users in the quarter, up 36.3% from a year earlier. In addition, it gained 38,093 (net) fibre-optic TV subscribers, up 20.4%. Those new subscribers lifted the company’s overall revenue in the quarter by 3.2%, to $6.02 billion from $5.84 billion a year earlier. Excluding one-time items, earnings improved 7.3%, to $0.88 a share (or a total of $801 million) from $0.82 a share (or $748 million). BCE Inc. is still a buy. buy…