Canada's BCE Q3 profit rises

Thu Nov 3, 2011 9:02am EDT
 
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(Reuters) - BCE Inc (BCE.TO: Quote), Canada's largest telecom company, posted a 41 percent jump in third-quarter profit, helped by its acquisition of CTV, Canada's premier media company.

The Montreal-based company, the parent of Bell Canada, said net profit rose to C$642 million, or 83 Canadian cents a share, from C$454 million, or 60 Canadian cents a share, last year.

Its adjusted earnings came in at 93 Canadian cents a share, while revenue rose about 9 percent to C$4.91 billion.

Bell is cutting costs and rolling out an Internet-protocol television product called Fibe to counter a move away from its once-core landline telephone business in Eastern Canada.

Shares in BCE have risen almost 11 percent so far this year.

(Reporting by Aftab Ahmed and Alastair Sharp in Toronto; Editing by Viraj Nair)

(This story corrects revenue figure in paragraph 3)