- BCE Inc (NYSE: BCE) reported first-quarter FY23 operating revenue growth of 3.5% year-on-year to C$6.05 billion.
- The company attributed the performance to a 0.9% increase in service revenue to C$5.22 billion.
- Product revenue increased 23.6% Y/Y to C$832 million.
- Total wireless operating revenue increased 5.4% Y/Y to C$ 1.72 billion.
- Total wireline data revenue rose by 2.5% Y/Y to C$2.00 billion.
- Wireline voice revenue declined by 5.8% Y/Y to C$726 million.
- Adjusted EBITDA declined by 1.8% Y/Y to C$2.54 billion, driven by Bell Wireless.
- The adjusted EBITDA margin declined 230 bps to 41.9% due to lower year-over-year media revenue.
- Adjusted EPS was C$0.85.
- BCE generated C$85 million in free cash flow.
- Glen LeBlanc would retire as CFO after 30 years of service, effective September 1, 2023. He will continue serving as Vice Chair Atlantic and Chair Northwestel.
- Currently SVP, Corporate Strategy & Treasurer, Curtis Millen will be promoted to CFO.
- Outlook: BCE expects FY23 revenue growth of 1% – 5% and adjusted EPS decline of (3)% – (7)%.
- Price Action: BCE shares traded lower by 0.70% at $47.64 on the last check Thursday.
‘Federal Reserve Says It Won’t Approve U.S. Crypto Firm’s Membership; Signaling A Tougher Crypto Stance’ – Bloomberg News
https://www.bloomberg.com/news/articles/2023-01-27/federal-reserve-signals-it-won-t-approve-crypto-firm-s-membership-application?utm_content=business&utm_campaign=socialflow-organic&utm_source=twitter&utm_med
