OTTAWA (dpa-AFX) - BCE Inc. (BCE, BCE.TO) posted first quarter net earnings attributable to common shareholders of C$574 million, up from C$503 million last year. Earnings were C$0.74 per share, up from C$0.67 share in the same quarter a year ago.
Adjusted earnings per share were C$0.75 versus C$0.72 in the prior-year quarter.
On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of C$0.72 per share. Analysts' estimates typically exclude special items.
Operating Revenues grew to C$4.91 billion from C$4.47 billion a year ago. Analysts expected revenues of C$4.96 billion.
'The Bell team's successful execution of our Strategic Imperatives resulted in solid Q1 financial performance, with significant growth in Bell revenue and EBITDA reflecting especially strong contributions by Bell Wireless and Bell Media,' said George Cope, President and CEO of Bell Canada and BCE.
'Our execution in the first quarter demonstrated a solid start to the year, highlighted by strong wireless performance, stabilizing Business Markets performance, continued competitive price discounting in residential wireline, and Media results that delivered a strong contribution to earnings and cash flow..'
BCE confirmed its financial guidance targets for 2012. Looking ahead to fiscal 2012, the company still expects adjusted earnings in a range of C$3.13 to C$3.18 per share. Analysts expect earnings of C$3.16 per share.
BCE's Board of Directors has declared a quarterly dividend of C$0.5425 per common share, payable on July 15, 2012 to shareholders of record at the close of business on June 15, 2012.
Copyright RTT News/dpa-AFX
© 2012 AFX News
