BCE reports Q1 adjusted EPS 72c, consensus 51c

Reports Q1 revenue $5.38B, consensus $4.43B. “Today’s results reflect the Bell team’s continued ability to successfully navigate a heightened competitive environment and achieve operational results in line with our expectations for the quarter,” said CEO Mirko Bibic. “Bell is off to a solid start with adjusted EBITDA and margin that were ahead of plan, demonstrating the team’s focus on operational efficiencies and our continued efforts to address near-term economic pressures, while effectively balancing growth with profitability. Bell’s award-winning networks and our leading services continue to resonate with Canadians. We had our best Q1 retail Internet net additions in 17 years, up 13.9% to 31,078, demonstrating customers’ continued preference for fibre. We are also deftly navigating an actively competitive wireless landscape with our highest Q1 postpaid net activations since 2018, up 4.5% to 45,247. Our pivot to digital at Bell Media helped drive digital revenue up 33% as digital platforms and advertising technology drove strong growth. I’m pleased to report that this is the first quarter of year-over-year advertising revenue growth since Q4 2022. We have been putting the right building blocks in place over the past few quarters as we transition to a company focused on providing our customers with the communications, tech services and digital media they need now and in the future.”