CEO Mirko Bibic says the telecom is focused on realigning costs to address competitive and economic pressures, and balancing growth with profitability
A person rides a bike past BCE Inc. headquarters in Montreal on Aug. 3, 2023. BCE Inc. reported its first-quarter profit fell compared with a year ago as it faced higher severance, acquisition and other costs related mainly to job cuts.The Montreal-based telecom giant had $457-million in net earnings, down 42 per cent from a year earlier owing in part to severance costs relating to its most recent restructuring.
BCE’s revenue for the three-month period ended March 31 was $6.01-billion, down 0.7 per cent from $6.05-billion during the same period last year. Scotiabank analyst Maher Yaghi called the wireless results “better than expected” but noted that average revenue per user, known as ARPU, declined 1 per cent year-over-year while postpaid wireless churn – the rate of customer turnover on a monthly basis – was “quite elevated.”
Period Telecom Bce Postpaid Profit Revenue Drop Scotiabank BCE Maher Yaghi
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