Montreal-based BCE Inc. has reported its second-quarter results, and shareholders will like what they read. Earnings were $773 million, or $1 per share, 31% higher than Q2 2011. Revenue was up 6.7% in the wireless division and 0.9% in the media division. Not surprisingly, the home phone division saw negative revenue growth of 3.9%.
Smartphone users now account for 55% of BCE's mobile subscribers, resulting in a 4.5% increase in ARPU (average revenue per user), to $55.37 per month.
Next month, the CRTC will commence hearings to determine whether BCE can proceed with its proposed $3.3 billion takeover of Astral Media Inc., whose assets include 70 TV channels and 107 radio stations. Yesterday, three cable companies (Cogeco, Eastlink and Quebecor) took out full newspaper ads calling on readers to voice their objections to the deal. The acquisition is also being reviewed by the federal Competition Bureau.