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BCE beats 4Q earnings and revenue expectations

CIRCONSCRIPTION ÉLECTORALE DE VERDUN, Que. – VERDUN, Quebec (AP) _ BCE Inc. (BCE) on Thursday reported fourth-quarter profit of $371.7 million.

On a per-share basis, the Verdun, Quebec-based company said it had net income of 43 cents. Earnings, adjusted for severance costs and investment costs, came to 53 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.

The Canada’s largest telecommunications company posted revenue of $4.2 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $3.95 billion.

For the year, the company reported profit of $1.98 billion, or $2.33 per share. Revenue was reported as $16.85 billion.

BCE expects full-year earnings in the range of $2.59 to $2.66 per share.

BCE shares have increased nearly 7 per cent since the beginning of the year. The stock has dropped 12 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BCE at http://www.zacks.com/ap/BCE

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Keywords: BCE, Earnings Report