Reports Q3 revenue $5.97B, consensus $4.36B. “Bell’s results for Q3 demonstrate that we are disciplined in our pursuit of profitable growth in an intensely competitive environment,” said CEO Mirko Bibic. “Our focus this quarter, and throughout 2024, has been to attract higher-margin subscribers and reduce costs to help offset short-term revenue impacts from sustained competitive pricing pressures, slow economic growth and a media advertising market that is in transition. Our results demonstrate the success of this approach with 2.1% adjusted EBITDA growth and our highest adjusted EBITDA margin since the early 1990’s of 45.6%…Looking ahead to the end of the year, we have updated our revenue guidance to reflect lower-than-anticipated product revenue in the first nine months the year and sustained competitive wireless pricing. All other financial guidance targets for 2024 remain unchanged, as we continue to do the work needed to align our cost structure with the revenue profiles of our businesses.”
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