Pandemic takes a bite out Bell, even as it passes 10M wireless sub mark

Books a $452 million write-down on Bell Media MONTREAL – Bell Canada Enterprises reported second quarter operating revenue of $5.35 billion, down 9.1% compared to Q2 2019. This is of course due to reduced consumer and commercial activity as Covid-19 negatively impacted financial results across all Bell operating segments. Service revenue $4.8 billion was a drop of 7.5% while product revenue fell 20.7% to $554 million. Net earnings declined 64% to $294 million, largely the result of higher expenses such as the $452 million worth of impairment charges related to certain Bell Media TV and radio properties, and lower adjusted...