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BCE reports first-quarter profit up more than 30 per cent from year ago

Canadian Press - Thu May 5, 7:14AM CDT

TORONTO — BCE Inc. reported its first-quarter profit rose more than 30 per cent compared with a year ago as its revenue also moved higher.

BCE CEO Mirko Bibic said it was the first quarter since the start of the pandemic in which the company's consolidated financial results surpassed pre-COVID levels.

The company said its profit attributable to common shareholders totalled $877 million or 96 cents per share for the quarter ended March 31, up from $642 million or 71 cents per share a year earlier.

Operating revenue totalled $5.85 billion, up from $5.71 billion in the first three months of 2021.

Wireless revenue rose to $2.21 billion compared with $2.1 billion a year ago, while wireline revenue slipped to $3.01 billion from $3.08 billion. Bell Media revenue totalled $825 million, up from $713 million in the same quarter last year.

On an adjusted basis, BCE said it earned 89 cents per share in its latest quarter, up from an adjusted profit of 78 cents per share a year earlier.

This report by The Canadian Press was first published May 5, 2022.

Companies in this story: (TSX:BCE)