Earnings before interest, taxes, depreciation and amortization (EBITDA) were $1.9 billion, up 7% compared withproforma EBITDA for the third quarter of 2000.
BCE’s results show solid growth in our key business drivers, despite a continued softening of the economy, said Jean C. Monty, Chairman and Chief Executive Officer of BCE Inc. By remaining committed to the execution of our plans, we delivered good performance both from a total company perspective and from core operations.
Bell Canada made strong gains in the quarter by significantly increasing its subscriber base in wireless, High Speed Internet and satellite T.V., commented Mr. Monty. BCE Emergis was particularly successful in its penetration of the U.S. market, signing significant agreements with key players from the financial and health sectors. Bell Globemedia strengthened its national reach through its interest in TQS, a Québec-based television network. And as Teleglobe continues to build out its network, it is beginning to see the economic benefits of serving clients from its own network facilities.
BCE also unveiled, as part of its convergence strategy, a series of value-added products that leverage BCE’s connectivity, commerce and content capabilities. This first series of convergence products, which will be launched through the remainder of the year, will give our customers more choice, more control and more tools to personalize their information and entertainment services and e-enable their Businesses.
After baseline adjustments of $468 million, the net loss applicable to common shares was $146 million in the quarter. Third quarter baseline adjustments consisted mainly of losses at Bell Canada International, goodwill expense and restructuring and other charges at Teleglobe.
