Bell Canada, or BCE Inc., today reported its financial statements for the fourth quarter of 2010. While the company touts “strong financial performance,” it didn’t impress who investors as BCE’s stock dropped roughly 1.3 percent after releasing the information.
Perhaps this is because their added subscribers were less than 120,000, a noteworthy decrease of more than 28 percent from their fourth quarter 2009 results. As Wind Mobile, Public Mobile, Mobilicity and others gain steam, the Big Three oligopoly of the Canadian telecom industry is finally feeling some heat—at least when it comes to wireless phones.
Bell highlights the following statistics in its report:
• BCE Q4 net earnings applicable to common shares up 25.4% to $439 million; EPS up 26.1%
• Bell Q4 service revenue growth of 1.3%; operating income up 20.8%; EBITDA(1) up 1.1%
• Bell Wireless Q4 operating revenues up 8.3%, service revenues up 9.1%; blended ARPU up $1.26on data revenue growth of 38%
• Capital investment of $860 million up 34.4% year over year to expand wireless and wireline broadband Internet capacity
• Another record quarter for wireless gross activations with 552,714; postpaid net activations up 42.6% to 156,708
• Bell Wireline Q4 operating income up 62.1%; Bell Wireline EBITDA up 6.9% on slowing NAS losses, TV revenue growth of 7.9% and cost reductions
If you’d like to read their full financial statement—though I highly doubt you do—you can check it out here.