New networks fuel BCE’s growth

Article Excerpt

New networks are key to winning wireless and Internet customers, who increasingly demand fast speeds for video streaming, gaming and so on. BCE’s upgrades to its own networks continue to pay off. BCE INC. $59.48 (Toronto symbol BCE; Shares outstanding: 900.4 million; Market cap: $53.6 billion; TSINetwork Rating: Above Average; Dividend yield: 4.8%; www.bce.ca) is Canada’s largest telephone service provider, with 22.1 million customers in Ontario, Manitoba, Quebec and the Atlantic provinces. This includes 3.8 million high-speed Internet users, 2.8 million TV subscribers, 9.0 million cellphone customers and 6.5 million landline accounts. The company completed its $3.9 billion acquisition of Manitoba Telecom in March 2017. That gave it 1.3 million telephone and wireless customers in the Prairie province. In the quarter ended September 30, 2017, BCE’s revenue climbed 5.0%, to $5.7 billion from $5.4 billion a year earlier. Earnings rose 1.9%, to $799 million from $784 million a year earlier. Due to more shares outstanding, per-share profits fell 3.3%, to $0.88 from…