Reuters: Regulatory News: UPDATE 1-BCE profit lifted by wireless, media segments

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UPDATE 1-BCE profit lifted by wireless, media segments May 3rd 2012, 12:05 Thu May 3, 2012 8:05am EDT May 3 (Reuters) - BCE Inc, Canada's largest telephone company, reported a 14.1 percent rise in first-quarter profit on Thursday, on the back of strong results from its wireless and media divisions. The Montreal-based parent of Bell Canada said its wireless division benefited from growth in its postpaid subscriber base and higher average revenue per user, as users snapped up data intensive smartphones. BCE, which has recently bought several major media companies, also saw its media unit's revenue jump. BCE said net profit rose to C$574 million, or 74 Canadian cents per share, from C$503 million, or 67 Canadian cents per share, a year earlier. Adjusted earnings per share came in at C$580 million, or 75 Canadian cents. That compared with a year-ago profit of C$543 million or 72 Canadian cents a share. Analysts, on average, had expected earnings of 72 Canadian cents, according to Thomson Reuters I/B/E/S. Revenue rose 9.9 percent to C$4.91 billion, just shy of the average estimate of C$4.96 billion. The company added 62,576 net postpaid subscribers in the quarter, a closely watched metric of growth of its most valuable wireless customers, who typically sign long-term contracts and spend more to use data on the latest smartphones. Smartphone users represented 52 percent of total postpaid subscribers at the end of the first-quarter, up from 34 percent a year earlier. Link this Share this Digg this Email Reprints

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