NYSE$BCE
BCE Inc · Q4 2024 earnings
Q4 2024 earnings · · Before market open · Investor relations
Briefing
BCE Q4 2024: C$6.42B revenue, C$0.51 EPS as net earnings jump 16.1%
BCE Inc. reported Q4 and full year 2024 results on February 6, 2025. Q4 operating revenues were C$6,422 million, down 0.8% from Q4 2023, reflecting lower Bell CTS service revenue partly offset by Bell Media growth. Net earnings rose 16.1% to C$505 million, or C$0.51 per common share, benefiting from lower impairment charges and mark-to-market FX gains. Adjusted net earnings increased 4.1% to C$719 million with adjusted EPS of C$0.79. Q4 adjusted EBITDA margin reached 40.6%, up 90 basis points. Full year operating revenue declined 1.1% to C$24,409 million. Management provided 2025 targets with revenue ranging from -3% to +1% and adjusted EPS expected to decline 8–13%.
- Q4 operating revenue of C$6,422M down 0.8% YoY
- Net earnings up 16.1% to C$505M; EPS C$0.51 vs C$0.42 prior year
- Adjusted EPS of C$0.79 up 3.9%; adjusted EBITDA margin 40.6%
- Full year revenue C$24,409M declined 1.1%
- 2025 outlook: revenue -3% to +1%; adjusted EPS down 8–13%
Headline financials
Revenue & EPS history
BCE · Revenue · Quarterly
C$6.42B
Revenue by segment
BCE · C$6.26B total across 2 segments · Q1 2026
- Bell Communication and Technology ServicesC$5.49B—87.6%
- Bell MediaC$778M—12.4%
Forward guidance
2025 revenue growth expected between -3% and +1%; adjusted EPS to decline 8–13%.
Tailwinds
- Highest annual adjusted EBITDA margin in 30+ years at 43.4%
Headwinds
- Bell CTS service revenue still declining
- CapEx intensity targeted down to ~14%
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2024
+0.1%
Avg return
Earnings day
-0.1%
Avg return
5 days after
+1.3%
Avg return
30 days after
47%
20 / 43 earnings
Positive
+5.3%
Q3 2023
Best reaction
-5.5%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.3% | +1.0% | +0.7% | |
| Q1 2025 | +4.6% | +3.4% | +2.5% | |
| Q4 2024 | -5.5% | -8.1% | -0.4% | |
| Q3 2024 | -1.3% | -3.7% | -6.8% | |
| Q3 2023 | +5.3% | +2.9% | +6.5% | |
| Q2 2023 | -0.1% | -0.7% | -1.5% | |
| Q1 2023 | +0.3% | -0.2% | -4.7% | |
| Q4 2022 | -3.2% | -4.1% | -6.5% | |
| Q3 2022 | +1.8% | +1.6% | +5.0% | |
| Q2 2022 | -0.6% | +0.2% | -2.4% | |
| Q1 2022 | -1.1% | -2.8% | -0.1% | |
| Q4 2021 | +0.9% | -0.6% | +6.0% | |
| Q3 2021 | -1.5% | -0.5% | -0.6% | |
| Q2 2021 | +2.1% | +2.0% | +5.6% | |
| Q1 2021 | +0.8% | +1.6% | +6.1% | |
| Q4 2020 | +1.3% | +1.7% | +4.9% | |
| Q3 2020 | -1.7% | +3.6% | +8.6% | |
| Q2 2020 | -0.2% | +1.1% | +0.6% | |
| Q1 2020 | +1.5% | -0.8% | +10.3% | |
| Q4 2019 | +1.9% | +1.9% | -1.8% | |
| Q3 2019 | -0.3% | -0.1% | +0.8% | |
| Q2 2019 | +2.3% | +1.5% | +4.9% | |
| Q1 2019 | -0.5% | -0.7% | +0.9% | |
| Q4 2018 | -0.7% | -0.7% | +1.5% | |
| Q3 2018 | +3.9% | +3.8% | +10.3% | |
| Q2 2018 | -1.8% | -3.7% | -4.0% | |
| Q1 2018 | -1.0% | -1.4% | -0.5% | |
| Q4 2017 | -1.4% | -1.2% | -1.3% | |
| Q3 2017 | +2.6% | +3.2% | +4.6% | |
| Q2 2017 | -1.1% | -0.8% | +1.1% | |
| Q1 2017 | +0.3% | -1.2% | -0.7% | |
| Q4 2016 | -1.5% | -2.0% | -3.1% | |
| Q3 2016 | -1.2% | +0.1% | -3.4% | |
| Q2 2016 | +0.9% | +1.8% | +0.7% | |
| Q1 2016 | +1.7% | — | — | |
| Q4 2015 | +1.6% | — | — | |
| Q3 2015 | -0.1% | — | — | |
| Q2 2015 | +0.4% | — | — | |
| Q1 2015 | -1.6% | — | — | |
| Q4 2014 | -3.2% | — | — | |
| Q4 2010 | -0.6% | — | — | |
| Q3 2010 | +1.2% | — | — | |
| Q2 2010 | -0.5% | — | — |
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