Bell Canada’s total revenue and adjusted EBITDA have returned to pre-pandemic Q3 2019 levels, according to Mirko Bibic, president and CEO of the Canadian cable operator.
The carrier’s consolidated service revenue “is up 3.6% and EBITDA 4.2% higher than last year, despite ongoing COVID-related headwinds affecting wireless roaming, business wireline customer spending and media advertising,” said Bibic in a financial call with analysts this week.
Net earnings for Bell Canada are also up nearly 10% to $813 million for Q3.
In addition, Bell Canada is on schedule to meet its network expansion goals for 2021, said Bibic, and has invested $1.2 billion in new capital in the third quarter. That’s 12% more year-over-year spending on direct fiber and fixed wireless connections, and the operator is expanding mobile 5G coverage and deploying 3.5 gigahertz capable radios in preparation for its goal of launching 5G coverage to over 70% of Canada’s population by the end of 2022. Bell Canada deployed fiber Internet to 52 smaller communities in Manitoba, Ontario, Québec and the Atlantic provinces and Bell 5G in several provinces this quarter.
During the third quarter, Bell Canada tallied 266,919 total wireless mobile phone, mobile-connected devices, retail Internet and IPTV net subscriber additions, which marks a 10% yearly increase. The carrier said it had 136,464 mobile phone net subscriber activations with 115,000 new net postpaid mobile phone subscribers, with postpaid subscriptions up 46%.
Bell Canada also marked its lowest postpaid churn during the third quarter: 0.93%. The company brought in 33,000 new IoT subscriptions, and 22,000 new prepaid mobile device customers, “which is our best quarterly result in the past year,” added Bibic.
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