Bell's profit suffers at the hands of stiffening competition - but not as much as Rogers'
Competition is fierce in Canada's wireless realm, and it shows on Bell's financial statements.
BCE Inc. saw a profit drop of more than five percent in its third quarter financial report. President and chief exec officer George Cope observed that a key factor in the dip was the “increasingly competitive communications marketplace.”
Still, well over $500 million in profit isn't too shaby. And the dip was actually in line with analyst estimates. Plus, revenue actually increased, though only by a sliver, from $4.4 to $4.5 billion year-over-year.
Bell's profit dipped, but not nearly as much as Rogers', which saw a decline in profit of 24 percent. Rogers also referred to the stiff competition, which saw subscriptions fall flat whereas Bell saw gains in subscriber metrics.
Telus will unveil its financial stats tomorrow.
