BCE Aims To Meet Targets Set For 2012

This article was last updated on April 16, 2022

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BCE Inc. has given an official statement on Thursday announcing that it is set on the right track to meet their financial targets of 2012 issued previously in August, which was before the company tried to purchase of Astral Media ran into a regulatory roadblock.

Analysts, however, claim that BCE Inc.’s profits are rather below the estimates of the third quarter. The net income of last three months till Sept, 30, have lowered to $569 million, while the net earnings fell to $588 million, or 76 cents per share. The Revenue of the Montreal-based telecom and Media Company was somewhat the same as last year, i.e. $4.98 billion, compared to the $4.91 billion of the third quarter of 2011.

Most of these benefits were generated from Bell Canada, which is the core subsidiary of BCE Inc. The operating revenue of Bell Canada was recorded as $4.39 billion, i.e. increment from $4.31 billion of last year. BCE claims to be going in the right path for meeting it’s previously given targets. The company has requested the federal cabinet to intervene in the CRTC’s decision to block the Astra Media deal but there is no sign, as yet, which point towards the government paying any attention to override the federal telecom and broadcast regulator.

The Chief Executive of BCE, George Cope, declared that the company has sought well-built expansion across its wireless, TV, Internet and media businesses.  Cope stated that “we’re executing a strategy of investment in network leadership, product innovation and improved customer service, and I’m proud to say the Bell team has made us a serious contender in every market in which Bell competes.”