- BCE Inc (NYSE:BCE) reported fourth-quarter FY21 operating revenue growth of 1.8% year-on-year to C$6.2 billion.
- The company attributed the growth to a 3.0% increase in service revenue to C$5.2 billion, reflecting robust wireless, residential Internet, and media growth. Product revenue decreased 4.5% Y/Y to C$966 million due to fewer mobile device transactions and lower business wireline data equipment sales.
- Total wireless operating revenue increased 2.8% Y/Y to C$2.5 billion due to solid service revenue growth.
- Total wireline operating revenue was flattish at C$3.1 billion.
- Media operating revenue increased 7.3% C$849 million, driven primarily by increased TV advertiser spending and higher subscriber revenue.
- Adjusted EBITDA was flattish at C$2.4 billion, reflecting increases of 5.3% in wireless and 1.1% in wireline, partly offset by a 19.0% decrease in media.
- The adjusted EBITDA margin was flattish at 39.1%.
- Adjusted EPS was C$0.76 versus C$0.81 last year.
- BCE generated C$1.7 billion in operating cash flow.
- Dividend: The board declared a quarterly dividend of C$0.92 per share, payable on April 15, 2022, to shareholders of record on March 15, 2022.
- Outlook: BCE sees FY22 revenue growth of 1% - 5%, and adjusted EBITDA growth of 2% - 5%.
- "Bell's solid performance in Q4 and throughout 2021 reflect the steady demand for fast, reliable and innovative services to keep residents and businesses connected, informed and productive with net new mobile phone and mobile connected device, retail Internet and IPTV subscriber additions of 225,533 in Q4, and our best annual retail, residential net subscriber performance in 10 years," said CEO Mirko Bibic.
- Price Action: BCE shares closed higher by 1.07% at $52.76 on Wednesday.
