BCE reports lower net, adjusted profit compared with second quarter 2012

MONTREAL – BCE Inc. (TSX:BCE) is reporting slightly higher operating revenue but a decline in profits compared with the second quarter of last year, when the company’s bottom line was helped by a favourable tax item.

The Montreal-based owner of Bell, CTV Inc. and other major Canadian media and telecom operations, says it had $571 million of net income attributable to common shareholders, or 74 cents per common share in the second quarter.

That was down from $732 million or 94 cents per common share a year earlier.

BCE’s adjusted earnings also fell, dropping to $594 million or 77 cents per common share —down from $747 million or 97 cents per share in the second quarter of 2012.

Last year’s second-quarter profit was boosted by a tax issue in the company’s favour.

Operating revenue at BCE’s main subsidiary, Bell, rose 1.9 per cent to $4.42 billion for the three months ended June 30 from $4.34 billion a year earlier.