BCE Shares Down as 1Q Costs Drag on Profit
Provided by
Dow Jones
By Adriano Marchese
BCE shares were lower Thursday morning after reporting profit fell as the company faced higher costs in the first quarter.
Shares were trading 2.2% lower at 44.76 Canadian dollars ($32.57).
The Canadian telecom company said net income fell to C$457 million, or C$0.44 a share, from C$788 million, or C$0.79 a share, in the prior-year period.
Operating revenues fell more than expected to C$6.01 billion from C$6.05 billion. Analysts were expecting only a slight decline to C$6.04 billion.
BCE cites lower service revenue that fell 0.6% to C$5.19 billion.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
May 02, 2024 10:45 ET (14:45 GMT)
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