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Nov 3, 2016

BCE quarterly profit rises on higher postpaid subscribers

George Cope, president and CEO of BCE

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MONTREAL -- BCE's third-quarter revenue and profit were up from the same time last year as Bell Canada added subscribers to specialty TV, digital TV, Internet, and wireless services -- offsetting lower revenue from advertising and conventional phone service.

The Montreal-based company (BCE.TO) had $5.41 billion of operating revenue for the three months ended Sept. 30, up 1.2 per cent from $5.34 billion in the third quarter of 2015.

Net earnings for common shareholders totalled $752 million, up 1.8 per cent from $739 million a year earlier, although net income per share was flat at 87 cents because of an increase in the number of BCE shares since last year.

BCE's adjusted earnings declined by nearly one per cent, to $784 million from $790 million, and adjusted earnings per share declined to 91 cents per share from 93 cents per share.

Bell's wireless services contributed $1.85 billion of revenue, up 4.3 per cent from $1.77 billion, while revenue from its wireline services such as conventional phones, digital television and Internet was little-changed at $2.75 billion.

Bell's media revenues rose by 3.5 per cent to $716 million from $692 million, due to added subscriber growth from The Movie Network, CraveTV and TV Everywhere.

The company added 107,265 postpaid customers, on a net basis, up from 77,655 a year earlier.

With files from Reuters 

BNN is a division of Bell Media, which is owned by BCE.