Wireless Services Drive 46% Increase in Bell Canada Profit

Canada’s biggest telephone provider, Bell Canada Enterprises Inc., reported a 46% increase in third-quarter profit yesterday, boosted by the back-to-school cell phone rush.

The company’s net income came in at $440 million, or $0.50/share, compared to $302 million, or $0.36/share, in the same period a year earlier. Revenue climbed 2% to $4.49 billion, driven by an 8% jump in wireless revenue.

BCE managed to expand its wireless customer base by 137,000 users, by releasing several advanced new mobile handsets, including Research In Motion’s BlackBerry 8830 email device, which features web and music capability.

“I think it was a very strong quarter for us,” commented Bell Mobility president, Wade Oosterman, president of Bell Mobility, who believes that these results will please the private equity investors who recently agreed to purchase BCE’s operations.

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