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BCE's second-quarter performance is affected by lower revenues from the Product segment and competitive pricing strategies.
The headline numbers for BCE (BCE) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Bell Media's parent company BCE Inc. (TSX:BCE) reported a slight revenue miss for the second quarter. Revenue was down 1% from the year-ago quarter at $6.01 million missing estimates of $6.07 million, which was attributed to an 8.7% decrease in product revenue to $697 million.
Telecommunications stocks have underperformed the overall market over the past year. The iShares U.S. Telecommunications ETF (NYSEARCA: IYZ ), the largest pure telecom ETF, has been flat, while the S&P 500 has rallied by 19% during this period.
BCE (BCE) came out with quarterly earnings of $0.57 per share, missing the Zacks Consensus Estimate of $0.59 per share. This compares to earnings of $0.59 per share a year ago.
This news release contains forward-looking statements. For a description of the related risk factors and assumptions, please see the section entitled "Caution Regarding Forward-Looking Statements" later in this news release.
BCE (BCE) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Investors looking for ways to find stocks that are set to beat quarterly earnings estimates should check out the Zacks Earnings ESP.
24/7 Wall Street Insights An anticipated interest rate cut by the Federal Reserve to help the troubled real estate market will likely hike inflation further.