BCE Inc. Q3-2018 Earnings & Price Target Update
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BCE is a Canadian telecommunications and media company providing wireless, wireline, Internet and television (TV) services to residential, business and wholesale customers in Canada. Wireless operations contribute 35% of revenues, wireline and internet services at 55% and 10% from Bell Media. Bell reached 87% coverage of the population with broadband LTE-A mobile service with plans to expand the footprint to approximately 92% of Canadians by the end of 2018. As of Sept-30-2018 assets totalled $57.6B and annual revenues for 2018 are forecast at $23B including the acquisition of Manitoba Telecom (MBT). BCE acquired common shares of MTS for approximately $3.1B and assumed outstanding debt of $0.8B. Total term debt as of Sept-30-2018 increased to $24B from $21.4B as of Dec-31-2017.
The Wireless segment provides wireless voice and data communication products and services to residential, small and medium-sized business and large enterprise customers across Canada. The Wireline segment provides data, including Internet access and IPTV, local telephone, long distance, as well as other communications services and products to our residential, small and medium-sized business and large enterprise customers primarily in Ontario, Québec and the Atlantic provinces, while Satellite TV service and connectivity to business customers are available nationally across Canada. The Bell Media segment provides conventional, specialty and pay TV, digital media and radio broadcasting services to customers across Canada and out-of-home advertising services.
To compete in the low cost prepaid wireless sector Lucky Mobile was launched in Dec-2017. Initially available to consumers in Ontario, Alberta and British Columbia, Lucky Mobile offers service in 17 zones covering most major cities across the country, including data access at 3G-equivalent speeds. Later this year, Lucky Mobile will introduce an app that enables talk and text over Wi-Fi.
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