VERDUN, Quebec (AP) — VERDUN, Quebec (AP) — BCE Inc. (BCE) on Thursday reported a third-quarter loss of $873.8 million, after reporting a profit in the same period a year earlier.
The Verdun, Quebec-based company said it had a loss of $1 per share. Earnings, adjusted for non-recurring costs, were 55 cents per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The Canada’s largest telecommunications company posted revenue of $4.38 billion in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $4.45 billion.
BCE shares have decreased 27% since the beginning of the year. The stock has dropped 27% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BCE at https://www.zacks.com/ap/BCE
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
