Topic: How To Invest

The Successful Investor Hotline – Friday, August 4, 2023

Article Excerpt

BCE INC., $56.28, Toronto symbol BCE, is a buy. The company is Canada’s largest traditional telephone service provider. It has 2.10 million residential customers in Ontario, Quebec, Manitoba and the Atlantic provinces. It also has 4.34 million high-speed Internet users and 2.72 million TV subscribers (satellite and fibre-optic). In addition, it sells wireless services to 12.6 million users across Canada. BCE 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. In the quarter ended June 30, 2023, BCE added 111,282 new wireless subscribers (net of cancellations) under long-term contracts. That’s up 33.8% from the year-earlier quarter. The telecom also added 24,934 (net) high-speed Internet users, as well as 11,506 (net) fibre-optic TV subscribers. Those new subscribers lifted the company’s overall revenue in the quarter by 3.5%, to $6.07 billion from $5.86 billion a year earlier. That beat the consensus forecast of $6.05 billion. However, higher interest costs cut…