(Photo: The Canadian Press)
Canadian telecommunications company BCE saw its net profit fall 13.8% in the fourth quarter of 2022 compared to the same period last year; it amounted to 567 million dollars (M$).
During the same period, the Montreal-based company’s net income attributable to common shareholders fell 15.9% to $528 million. Adjusted net income was $654 million, down 6.6% from the fourth quarter of 2021.
For the full fiscal year 2022, BCE’s net income was $2.926 billion, up 1.2% from $2.892 billion. Meanwhile, adjusted net income rose 5.6% to $3.057 billion from $2.895 billion.
Operating income grew 3.1% from $23.449 billion in 2021 to $24.174 billion last year.
Mirko Bibic, President and CEO of BCE and Bell Canada, noted that all of the telecom giant’s business segments made progress in fiscal 2022, which helped deliver 3.1% growth in consolidated revenue and adjusted earnings before interest, taxes, depreciation and amortization ( to achieve EBITDA) ).
In its outlook for 2023, BCE expects in particular that a decrease in investments will lead to an increase in free cash flow.
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