06:54:19 EDT Tue 30 Apr 2024
Enter Symbol
or Name
USA
CA



BCE Inc (2)
Symbol BCE
Shares Issued 870,700,037
Close 2017-02-02 C$ 57.44
Market Cap C$ 50,013,010,125
Recent Sedar Documents

Globe says BCE shares take hit on lower outlook

2017-02-03 08:13 ET - In the News

The Globe and Mail reports in its Thursday edition that BCE has posted a swell of wireless subscribers in the fourth quarter, but a dip in revenue at its land-line division and a lower-than-expected forecast for 2017 dragged the company's shares down Thursday. The Globe's Christine Dobby writes that BCE said Thursday that it added 112,000 new contract-wireless customers in the period, outpacing both analyst expectations and the 93,000 rival Rogers Communications reported last week. BCE chief executive officer George Cope said it was an "extremely competitive" in wireless which included a lot of short-term promotions. Mr. Cope was pleased the company avoided lowering prices. BCE said its overall revenue was up 1.8 per cent to $5.7-billion; it raised its annual dividend by 5.1 per cent to $2.87 a share. BCE also announced financial targets for 2017, stating it expects revenue to grow between 1 and 2 per cent. Analysts noted those targets are a bit lower than expected. "The signs of maturity are certainly evident in the 2017 guidance and this will support a growing investor concern on growth sustainability," said Macquarie analyst Greg MacDonald. BCE closed Thursday at $57.44, down 95 cents.

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