BCE (TSE:BCE) rose on Thursday after the Canadian telecommunications comapny posted a solid increase in third-quarter profit, buoyed by its wireless customers spending more for service.
Shares gained 1.1% to C$56.92 at 1:03 p.m. in Toronto.
Net income increased to C$739mln, or C$0.87 per share, in the September quarter, from C$600 mln, or C$0.77 per share, a year ago, the Montreal, Quebec-based company said in a statement on Thursday.
On an adjusted basis, the company earned C$0.93 per share.
Revenue rose 2.9% to C$5.35bn.
Analysts had on average expected BCE to earn C$0.85 per share on revenue of C$5.30bn, according to Capital IQ.
Bell, as the company is known to customers, added 77,655 postpaid wireless customers.
The company's wireless customers on average spent C$65.34 a month, up 6.1%, although it also paid more to court them amid tough competition.
A greater number of wireless customers are free to switch providers this year due to regulatory changes.
Telus, BCE's competitor and network-sharing partner, added 69,000 such postpaid customers, while wireless market leader Rogers Communications said last month that it added 77,000 in the same period.
Revenue in BCE's fixed-line business declined as its services to business were hit by pricing pressure and reduced customer spending due to slow economic growth.
BCE added almost 58,000 Internet customers and 68,000 customers for its Fibe TV and FibreOP TV services, down from a year ago.
It lost almost 42,000 satellite customers.