BCE says more cost restructuring possible in media division as Q2 net earnings fall almost 40%

The application, which was filed the same day the company announced its layoffs, noted Bell Media’s average annual news operating loss totalled $28.4 million between 2016 and 2019, a figure which jumped to $40 million last year as web giants scooped up the Canadian advertising market.

“On balance, we view the results as neutral to a modest positive for the shares at current levels,” he said in an analyst note.Article content “That is another area of improvement in cost trajectory,” he said, adding he believed the “transformation” of Bell’s media division to become more digitally focused would bring some advertising revenue back.

On the telecom side, the company added 111,282 net postpaid mobile phone subscribers, up 33.8 per cent from the same period last year and representing what Bell said was its best second quarter result for the metric in 18 years.

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Bell saw Q2 net earnings fall 40% as it began layoff of 1,300 workers - BNN BloombergBCE Inc. says its net earnings tumbled almost 40 per cent in its most recent quarter as it began laying off 1,300 workers.
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