Q2 2024 BCE Inc Earnings Call Transcript
Key Points
- BCE Inc (BCE) reported a 2% growth in EBITDA for Q2, with a 1.3 point increase in margin to 44.9%, demonstrating effective cost management.
- Free cash flow increased by 8% year-over-year to $1.1 billion, aligning with the company's expectations.
- The company saw a 4.4% increase in total postpaid and prepaid mobile phone net additions, driven by disciplined promotional offers and higher quality main brand loading.
- Bell Media's digital advertising revenues grew by 35%, supported by new partnerships and advanced advertising solutions.
- BCE Inc (BCE) achieved strong business solutions services revenue growth of 22%, bolstered by acquisitions and expanded capabilities in cloudification, security, and managed automation.
- Consolidated top-line growth was impacted by sustained competitive pricing pressures and expected revenue loss from store closures.
- Wireless RPU was down 1.9% year-over-year, reflecting the lowest pricing environment in the history of wireless in Canada.
- Gross activations on Bell's Fibe TV app streaming service were down considerably due to a $5 rate increase for new subscribers.
- The company continues to face elevated churn rates in the wireless segment, although there was a sequential improvement from Q1.
- Total revenue was down 1%, primarily due to an 8.7% decrease in low-margin wireless and wireline product sales, including the loss of revenue from store closures.
Welcome to the BCEQ. two 2024 Results Conference Call. I would now like to turn the meeting over to Mr. Thane Fotopoulos.
Please go ahead, Mr. Fotopoulos Thank you, Matthew, and good morning, everyone, and thank you for joining our call. With me here today are Mirko Vivek, President and CEO, VC., and our CFO, Curtis mill, and you can find our Q2 disclosure documents on the Investor Relations page of the BCE. dot c. a. website, which we posted earlier this morning.
Before we begin, I want to draw your attention to our safe harbor statement on Slide 2 of the analyst presentation, reminding you that today's presentation and remarks made during the call will include forward-looking information and therefore are subject to risks and uncertainties. Results could differ materially, and we disclaim any obligation to update forward-looking statements. Except as required by law, please refer to BCE's publicly filed documents for more details on our assumptions and risks. With that, I'll turn it over to Mirko.
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