BCE Q1 profits sag under weight of MTS deal, waning TV subscribers; new OTT TV product coming soon

MONTREAL – The acquisition of MTS combined with slowing television and Internet subscribers helped to pull down first quarter profits by 4.4%, BCE said Wednesday.Net earnings fell to $725 million in Q1 while net earnings attributable to common shareholders dropped 4.0% to $679 million due to higher severance, acquisition and other costs and an increased average number of BCE common shares outstanding, both due to the acquisition of MTS. Excluding severance, acquisition and other costs, net losses or gains on investments, impairment charges and early debt redemption costs, adjusted net earnings increased 3.3% to $758 million.Operating revenue was up 2.2%...