BCE Q3 Net Profit Slips; Backs 2013 BCE, Bell Canada Targets - Quick Facts

(RTTNews) - BCE Inc. (BCE, BCE.TO), Canada's largest communications company, said its third-quarter 2013 earnings attributable to common shareholders dropped to C$343 million, or C$0.44 per share, from C$527 million, or C$0.68 per share last year, due to the CRTC tangible benefits obligation of $230 million that Bell was ordered to pay as part of the acquisition of Astral Media Inc.

Adjusted net earnings of BCE totaled C$584 million, or C$0.75 per share in the recent quarter. On average, 18 analysts polled by Thomson Reuters expected earnings per share of C$0.77 for the third quarter. Analysts' estimates typically exclude one-time items.

BCE's operating revenues reached C$5.01 billion, up 2.3% from the year-ago period's C$4.98 billion, while 12 analysts estimated revenues of C$5.16 billion.

Commenting on the outlook, Siim Vanaselja, Chief Financial Officer for Bell and BCE, said: "With an outlook for continued strong wireless profitability, an improving wireline financial profile and a significant contribution from Astral to our Bell Media results, we are on track with our 2013 financial plan and reconfirm today all our Bell and BCE guidance targets for the year."

Additionally, BCE's board has declared a quarterly dividend of C$0.5825 per share, payable on January 15, 2014 to shareholders of record at the close of business on December 16, 2013.