Q3 25 EPS
$0.58
MISS 18.28%
Est. $0.71
Q3 25 Revenue
$4.43B
MISS 27.19%
Est. $6.08B
vs S&P Since Q3 25
-16.5%
TRAILING MARKET
BCE -5.2% vs S&P +11.3%
Market Reaction
Did BCE Beat Earnings? Q3 2025 Results
BCE Inc. Delivered a mixed but strategically eventful third quarter, with adjusted earnings per share of $0.58 falling short of the $0.71 consensus estimate by 18.28%, while revenue of $4.43 billion trailed the $6.08 billion consensus by 27.19%, even… Read more BCE Inc. Delivered a mixed but strategically eventful third quarter, with adjusted earnings per share of $0.58 falling short of the $0.71 consensus estimate by 18.28%, while revenue of $4.43 billion trailed the $6.08 billion consensus by 27.19%, even as sales edged up 1.3% year over year. The central story of the quarter was BCE's $3.67 billion acquisition of Ziply Fiber, completed August 1, which added a new U.S. Segment that contributed $117.10 million in operating revenues and a 44.4% adjusted EBITDA margin in its first two months under BCE ownership. That incremental lift helped offset a 0.6% decline in Bell CTS Canada revenues, where legacy voice erosion and competitive wireless pricing continued to weigh, as well as a 6.4% drop in Bell Media revenues. Looking ahead, BCE is targeting sustainable free cash flow growth under a new three-year strategic plan, with a reset annualized dividend of $1.28 and a 40-55% free cash flow payout ratio guiding capital allocation discipline.
Key Takeaways
- • Ziply Fiber acquisition contributing $160M in revenues and $71M in adjusted EBITDA
- • Higher wireless and Internet average subscriber bases with rate increase flow-through
- • Growth in AI-powered solutions business including Ateko, Bell Cyber, and Bell AI Fabric
- • Cost reduction initiatives from workforce reductions, call centre efficiencies, and automation
- • $5.2 billion gain on sale of minority stake in MLSE
- • Lower capital expenditures due to planned reduction in FTTP footprint expansion
BCE YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
BCE Revenue by Segment
With YoY comparisons, source: SEC Filings
BCE Earnings Trends
BCE vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
BCE EPS Trend
Earnings per share: estimate vs actual
BCE Revenue Trend
Quarterly revenue: estimate vs actual
BCE Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $0.58 | $0.46 | -20.35% | $4.53B | -25.59% |
| Q4 25 BEAT FY | $0.54 | $0.69 | +28.04% | $6.40B | -1.99% |
| FY Full Year | $2.72 | $2.80 | +3.07% | $24.47B | -0.51% |
| Q3 25 MISS | $0.71 | $0.58 | -18.28% | $4.43B | -27.19% |
| Q2 25 MISS | $0.71 | $0.63 | -11.39% | $6.09B | +2.25% |
| Q1 25 MISS | $0.62 | $0.51 | -18.48% | $4.34B | -26.77% |