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(Bloomberg) — BCE Inc. came ahead of analyst expectations in the third quarter as the firm’s Ziply Fiber asset drove revenue gains and internet subscriptions.
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Canada’s largest telecommunications company earned 79 Canadian cents per share on an adjusted basis, more than the 71 cents analysts expected in a Bloomberg survey.
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This marks the first quarter where BCE’s purchase of Northwest Fiber LLC, which does business as Ziply Fiber, was fully reflected in the results. Ziply added C$160 million ($114 million) in operating revenue and C$71 million in adjusted earnings before interest, depreciation and amortization, according to a statement Thursday.
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The firm added 26,111 net retail high-speed internet subscribers, including through Ziply Fiber, which contributed to more than 11% in internet revenue growth.
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BCE’s mobile division earned 11,511 net postpaid subscribers in the third quarter, down by more than 65% from a year earlier. Management pointed to a less active market that was further weighed by slower population growth after the federal government curbed immigration targets. Improving churn rates, which meant fewer customers jumped to competitors, helped offset the slump.
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The company said at its October investor day that it’s targeting free cash flow gains of 7% a year between 2025 and 2028. To boost growth, it’s expanding internet service in western Canada and the US, and started a new artificial intelligence data-center network called Bell AI Fabric earlier this year.
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BCE’s media division owns BNN Bloomberg Television, which has a content partnership with Bloomberg LP.
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