Following up on this story where I point out that Bell is slashing jobs, not rolling out fibre and scaling back their speed offerings, and selling radio stations along with slashing jobs at what used to be called The Source, Bell also reported their Q4 and full year results. You can read that here, but here’s the TL:DR:
- There was a a 3.9% increase in wireless service revenue as Bell got 170,831 net subscriber activations.
- There were 55,591 retail Internet net subscriber activations in Q4. Which according to Bell is the second best Q4 result in nearly two decades.
- Bell’s net earnings fell by 23.3% to $435 million in the quarter.
And whose fault is that that their earnings fell 23.3%? Here’s who Bell blames:
While it’s clear that we are continuing to execute with discipline in a competitive marketplace, we need to take additional measures in response to increasingly unsupportive federal government and regulatory decisions, legacy business declines and a macroeconomic environment with higher interest rates and continued inflation. As our business is hampered by regulatory decisions that discourage investment, we are slowing the pace of our network expansion and capping fibre speeds.
Really Bell? I find it hard to be sympathetic when they still made money. And I find it even harder to be sympathetic when Bell decides to slash all these jobs after they finish their “Bell Let’s Talk” mental health campaign. Because slashing these jobs is sure to cause some mental health issues for those who are losing their jobs. But maybe I am looking at this wrong?
In any case maybe Bell needs to better “execute with discipline” given the environment which includes an “increasingly unsupportive federal government and regulatory decisions”. That might make their balance sheet look better. But again, maybe I’m looking at that wrong as well.
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This entry was posted on February 8, 2024 at 12:10 pm and is filed under Commentary with tags Bell. You can follow any responses to this entry through the RSS 2.0 feed.
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More Bell News Shows Bell Didn’t Make As Much Money As They Think They Should Have… And Blames The Government For That
Following up on this story where I point out that Bell is slashing jobs, not rolling out fibre and scaling back their speed offerings, and selling radio stations along with slashing jobs at what used to be called The Source, Bell also reported their Q4 and full year results. You can read that here, but here’s the TL:DR:
And whose fault is that that their earnings fell 23.3%? Here’s who Bell blames:
While it’s clear that we are continuing to execute with discipline in a competitive marketplace, we need to take additional measures in response to increasingly unsupportive federal government and regulatory decisions, legacy business declines and a macroeconomic environment with higher interest rates and continued inflation. As our business is hampered by regulatory decisions that discourage investment, we are slowing the pace of our network expansion and capping fibre speeds.
Really Bell? I find it hard to be sympathetic when they still made money. And I find it even harder to be sympathetic when Bell decides to slash all these jobs after they finish their “Bell Let’s Talk” mental health campaign. Because slashing these jobs is sure to cause some mental health issues for those who are losing their jobs. But maybe I am looking at this wrong?
In any case maybe Bell needs to better “execute with discipline” given the environment which includes an “increasingly unsupportive federal government and regulatory decisions”. That might make their balance sheet look better. But again, maybe I’m looking at that wrong as well.
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This entry was posted on February 8, 2024 at 12:10 pm and is filed under Commentary with tags Bell. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.