Bell Canada Reports $5.7 Billion In Revenue, $687 Million In Net Income For Q1 2021
BCE Inc. (TSX: BCE), whom is known more commonly as Bell Canada, reported today its financial results for Q1 2021, reporting $5.7 billion in revenue. This quarter’s revenue is a 1.2% increase from last year’s $5.6 billion.
The reported revenue for the quarter is composed of service revenue at $4.97 billion, which declined by 1.0% from last year, and product revenue of $738 million, which climbed by 18.6% from last year.
The company also posted net earnings of $687 million, which is a 6.3% decline from the previous year’s $733 million. The net earnings for this quarter translate to $0.71 per share, a 5.3% decline from last year’s $0.75 per share. BCE said that the decrease in net earnings is attributed to higher severance, acquisition, and other costs.
BCE’s board of directors has also declared a quarterly dividend of $0.875 per common share, payable on July 15, 2021.
The company also confirmed previously announced financial guidance for the year, wherein the company set 2% – 5% guidance for revenue growth, 1% – 6% guidance for earnings per share growth, and $3.50 annual dividend per share for 2021. The company reported that it is on track for the first quarter.
The company ended Q1 2021 with $6.5 billion of available liquidity and $940 million free cash flow.
You can see the full details of BCE’s Q1 2021 financial results here.
BCE Inc. last traded at $57.69 on the TSX.
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