Topic: How To Invest

The Successful Investor Hotline – Friday, May 3, 2024

Article Excerpt

BCE INC., $45.96, Toronto symbol BCE, is still your #1 Income Buy for 2024. The company is Canada’s largest traditional telephone service provider. It has 1.98 million residential customers in Ontario, Quebec, Manitoba and the Atlantic provinces. It also has 4.50 million high-speed Internet users and 2.08 million fibre-optic TV subscribers. In addition, the company sells wireless services to 13.01 million users across Canada, and it owns TV and radio stations. In the quarter ended March 31, 2024, BCE added 45,257 new wireless subscribers (net of cancellations) under long-term contracts. The telecom also added 31,078 (net) high-speed Internet users, as well as 14,174 (net) fibre-optic TV subscribers. Despite those new subscribers, the company’s overall revenue in the quarter fell 0.7%, to $6.01 billion from $6.05 billion a year earlier. That missed the consensus forecast of $6.05 billion. The lower revenue is mainly due to a 1.6% drop in sales of new mobile phones and other equipment, as well as a 7.1% decline in…