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BCE posts 1Q profit, results miss Wall Street forecasts

CIRCONSCRIPTION ÉLECTORALE DE VERDUN, Que. – VERDUN, Quebec (AP) _ BCE Inc. (BCE) on Thursday reported first-quarter net income of $542.3 million.

The Verdun, Quebec-based company said it had profit of 60 cents per share. Earnings, adjusted for one-time gains and costs, came to 62 cents per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.

The Canada’s largest telecommunications company posted revenue of $3.84 billion in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $4.44 billion.

BCE expects full-year earnings in the range of $2.52 to $2.59 per share.

BCE shares have increased 19 per cent since the beginning of the year. The stock has climbed slightly more than 2 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