TU - BCE: It May Take Several Quarters For Its Revenue To Return To Pre-Crisis Level
Investment Thesis
BCE (BCE) (TSX:BCE) had a challenging Q2 2020 as its business was impacted negatively by COVID-19. Fortunately, Q2 was likely the trough as we are seeing signs of improvement. As its retail stores reopen and people start to move again, its wireless revenue should gradually improve. Similarly, its media business should see higher advertising revenue as the economy gradually restarts and recovers. However, it may take at least several quarters for its business to return to pre-crisis level due to the challenge to contain COVID-19. BCE currently pays a