BCE Inc. reported its fourth quarter (Q4) and full-year (FY) 2025 financial results, achieving all 2025 financial guidance targets. For Q4 2025, revenue was CAD 6.40 billion, down 0.3%. Service revenue increased 2.9% to CAD 5.44 billion, offsetting a 15.0% decline in product revenue to CAD 965 million. Consolidated adjusted EBITDA grew 2.3%, with adjusted EBITDA margin reaching 41.6%, the highest Q4 margin in over 30 years. Net earnings for Q4 were CAD 632 million, up 25.1%, while net earnings attributable to common shareholders totaled CAD 594 million, or CAD 0.64 per share, up 28.9% and 25.5%, respectively. Adjusted net earnings were CAD 643 million, resulting in adjusted EPS of CAD 0.69, down 12.7%. Free cash flow for the quarter was CAD 225 million, representing a 74.3% decrease. For full-year 2025, revenue increased 0.2% to CAD 24.47 billion, driven by a 0.6% rise in service revenue, partly offset by a 2.2% decline in product revenue. Full-year free cash flow rose 10.0% to CAD 3.18 billion. Capital expenditures for the year were CAD 3.70 billion. Key corporate highlights included the positive contribution from Bell Communication and Technology Services (Bell CTS) U.S., reflecting the integration of Ziply Fiber's operations following its acquisition in August 2025. Gains on investments from the sale of substantially all home security and monitored alarm assets also contributed to improved net earnings. These were partly offset by higher depreciation, amortization, asset impairment charges, income taxes, and interest expense.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. BCE Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: MO77696) on February 05, 2026, and is solely responsible for the information contained therein.