BCE Q1 Profit Rises, Tops Estimate; Backs 2014 Adj. EPS View - Quick Facts

(RTTNews) - BCE Inc. (BCE, BCE.TO,), Canada's largest communications company, said that its first-quarter of 2014 net earnings attributable to common shareholders increased 8.7% to C$615 million from the prior year's C$566 million, with earnings per share improving to C$0.79 from C$0.73 last year.

Adjusted net earnings were C$626 million, an increase of 4.5% from C$599 million last year. Adjusted net earnings per share was C$0.81, up from C$0.77 in the prior year quarter. Analysts polled by Thomson Reuters expected the company to report earnings of C$0.76 per share for the quarter. Analysts' estimates typically exclude special items.

BCE's operating revenues for the quarter grew 3.7% to C$5.099 billion from C$4.919 billion in the year ago quarter. Wall Street analysts had a consensus revenue estimate of C$5.12 billion for the quarter.

Looking ahead for 2014, BCE's adjusted earnings per share are still expected to range between C$3.10 and C$3.20. Analysts project annual earnings per share of C$3.14.