Bell Canada Enterprises (BCE) reported that total operating revenue increased 2.9% year-on-year in Q2 2022 to CAD5.861 billion (USD4.561 billion), driven by 3.8% higher service revenue of CAD5.233 billion – helped in particular by 7.8% mobile service revenue growth and 8.0% higher residential fixed internet revenue – plus media division improvement. 'Product revenue' was down 4.6% y-o-y to CAD628 million in April-June 2022, largely reflecting lower B2B fixed network data equipment sales. Group net income declined 10.9% y-o-y to CAD654 million in 2Q22, although quarterly adjusted EBITDA grew 4.6% to CAD2.590 billion, reflecting y-o-y increases at all Bell operating segments. Consolidated three-month CAPEX reached CAD1.219 billion in the second quarter of 2022, up 0.7% from CAD1.210 billion invested in Q2 2021, with capital expenditures in the most recent quarter focused on the continued accelerated rollout of Bell's direct fibre and 5G mobile networks.

Thanks to TeleGeography for this industry update.