BCE profit up 25%
BCE Inc.'s profit is up sharply, with the telecom and media company's net income in the fourth quarter rising by 25.4 per cent to $439 million. That's a rise from $350 million in the comparable period of 2009.
The Montreal-based company's earnings per share was 58 cents, up from 46 cents a year earlier.
Diluted earnings per share was 60 cents, below average analyst expectations of 61 cents according to Thomson Reuters. BCE says its operating profit rose to $836 million from $751 million and adjusted EPS was 60 cents, up 17.6 per cent from the year before.
Operating revenues rose slightly to $4.68 billion from $4.65 billion, with most of that generated by BCE's main subsidiary Bell Canada. BCE is awaiting regulatory approval from the CRTC for its $1.3 billion purchase of the CTV assets that it didn't already own.
Canada's largest telecom company has said it's willing to sell video content to competitors if the deal is approved but BCE also wants its rivals to do the same kind of deal making.
It has said it moved to buy majority control of CTV last fall to ensure that cable companies didn't have a lock on content.
BCE, the parent company of Bell Canada, wants to put video content including television, sports and news programs, not only on its CTV television services but on also personal computers, tablets and smartphones.