BCE Posts $594M Q4 Profit; Crave Subscriptions Surge 26%

MONTREAL – BCE Inc. has announced a fourth-quarter profit of $594 million attributed to common shareholders. This profit translates to 64 cents per share, an increase from $461 million or 51 cents per share reported during the same period last year. Despite this positive performance, the company’s operating revenue slightly decreased, totaling $6.40 billion compared to $6.42 billion in the fourth quarter of 2024.

BCE’s Earnings Overview

On an adjusted basis, BCE earned 69 cents per share in the latest quarter. This is a drop from an adjusted profit of 79 cents per share recorded the previous year. Analysts had anticipated an adjusted profit of 63 cents per share, according to data from LSEG Data & Analytics.

Wireless Subscriber Trends

• Net postpaid wireless additions last quarter reached 56,124, decreasing by 0.8% compared to 56,550 a year earlier.
• This decline is attributed to a less dynamic market environment and changes in immigration policies affecting population growth.
• BCE has shifted its focus towards acquiring higher-value subscribers.

Customer churn has improved, registering at 1.49%, marking the third consecutive quarter of year-over-year enhancement. The average revenue per user (ARPU) for mobile phones stood at $56.72, reflecting a 0.8% decrease from the previous year. This decline is tied to ongoing competitive pricing pressures, increased discounting, and decreased roaming revenue as fewer Canadian customers traveled to the United States.

Growth in Crave Subscriptions

BCE’s Crave streaming service experienced a significant surge in subscriptions, increasing by 26% to reach 4.6 million. This boost coincides with the debut of the original series “Heated Rivalry” in November.

Future Guidance and Analyst Insights

Looking ahead, BCE maintains its 2026 revenue growth forecast, projecting an increase of 1% to 5% year-over-year. Analyst Jerome Dubreuil from Desjardins noted that the company’s outlook fell “modestly below expectations.” He emphasized the management’s reliance on an anticipated improvement in wireless pricing for this year.

BCE appears to be on track with its financial targets set for 2028, reaffirming strength in its long-term outlook.