BCE Releases Strong Q4 and Annual Results for 2025, Sets Ambitious 2026 Financial Goals

BCE Reports Strong Q4 and Full-Year Results for 2025

BCE Inc. (TSX BCE) has recently unveiled its financial outcomes for the fourth quarter and the full year of 2025, accompanied by ambitious guidance for 2026. The report highlights a 2.3% growth in consolidated adjusted EBITDA for Q4, marking a notable increase in adjusted EBITDA margin to 41.6%, the highest in over three decades.

Significant Financial Achievements

The financial highlights for Q4 indicate net earnings of $632 million, representing a substantial growth of 25.1% year-over-year, while net earnings attributable to common shareholders increased 28.9%, reaching $594 million. Adjusted net earnings yielded an adjusted EPS of $0.69, despite an overall decrease from the previous year.

In the competitive landscape of wireless services, BCE saw a successful momentum, with over 56,000 postpaid mobile phone net subscriber activations during Q4 and a postpaid churn rate reduced to 1.49%. Furthermore, BCE’s retail fibre Internet segment enjoyed a 16.6% revenue growth, attributing part of this success to its acquisition of Ziply Fiber.

Impressively, BCE's AI-powered solutions revenue surged 31% in Q4, underscoring the growing demand in this sector. Additionally, the streaming platform Crave saw a 26% increase in subscriptions, reaching 4.6 million, making Q4 the most-watched quarter in its history.

Strategic Business Developments

BCE’s results in 2025 were driven by a disciplined focus on four strategic priorities:
1. Customer-Centric Approach: BCE launched hardware-free Fibe TV, enhancing accessibility for customers in Ontario and Quebec. The additional availability of the Fibe TV app on Smart TVs and streaming devices further streamlined customer engagement.
2. Network Excellence: Bell Pure Fibre was recognized as Canada’s fastest Internet service for the sixth consecutive reporting period, continuing to lead in both 5G performance and overall customer experience.
3. AI Solutions Leadership: Through its acquisition of SDK Tek, BCE expanded its capabilities in AI and analytics, reinforcing its market position.
4. Digital Media Expansion: The partnership with Loblaw Advance established a first-of-its-kind closed-loop measurement solution, amplifying BCE’s advertising efficiency across its media platforms.

As the company moves into 2026, BCE anticipates robust improvements in revenue driven by wireless pricing, product sales, and the continuing contributions from Ziply Fiber. The company has set various ambitious financial targets, projecting adjusted EBITDA growth of 0% to 4%, with expectations for stable capital expenditures.

Looking Ahead

BCE maintains its commitment to sustainable growth while being responsive to market dynamics. The initiatives introduced in 2025 position the company well for future success, especially with a more disciplined approach to capital allocation and a clear strategy set during the Investor Day. BCE is optimistic about driving sustainable free cash flow growth that will provide long-term value to shareholders.

In conclusion, BCE’s sturdy performance in 2025 and its strategic focus for the upcoming year illustrate its robust foundations in the telecommunications landscape. With continued growth in wireless services, digital media, and innovative AI solutions, BCE is set to navigate 2026 with renewed vigor and ambition.