VERDUN, Quebec (AP) — VERDUN, Quebec (AP) — BCE Inc. (BCE) on Thursday reported first-quarter net income of $438.8 million.
The Verdun, Quebec-based company said it had profit of 47 cents per share. Earnings, adjusted for non-recurring costs, were 48 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The Canada’s largest telecommunications company posted revenue of $4.13 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $4.22 billion.
BCE shares have dropped slightly more than 8% since the beginning of the year. The stock has fallen 36% in the last 12 months.
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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
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