Total revenue was $5.7 billion, a 7% increase over proforma revenue last year. Earnings before interest, taxes, depreciation and amortization (EBITDA) were $1.9 billion, up 11% compared with proforma EBITDA for the second quarter of 2000.
BCE’s results in the second quarter are in line with expectations, said
Jean C. Monty, Chairman and Chief Executive Officer of BCE Inc. With the
continued focus on the execution of our business plans, our core operations
achieved revenue growth of 10%, EBITDA growth of 8%, and cash baseline
earnings growth of 42%, despite continuing indications of a softer economy.
Mr. Monty commented. At Bell Canada, we experienced solid subscriber
growth in the key growth areas of wireless, High Speed Internet (DSL) and
satellite T.V. BCE Emergis continued to drive its expansion into the U.S. and
that revenue now represents over 40% of the total. Bell Globemedia combined
its Interactive businesses under a single leadership to provide greater
opportunities for leveraging our on-line properties. And Teleglobe made
significant progress in the completion of its network deployment.
Finally, BCE’s convergence strategy of enhancing our core connectivity
with value-added services such as e-commerce and content is gaining momentum
with numerous initiatives underway, many of which will be launched this fall.
After baseline adjustments of $335 million mostly attributable to
goodwill expense, mainly for Teleglobe and BCE Emergis, and losses at Bell
Canada International, the net loss applicable to common shares was $31 million
in the second quarter of 2001.
