The Globe and Mail reports in its Friday edition that BCE on Thursday posted higher net earnings in the fourth quarter of 2024, but added fewer wireless subscribers than expected, and it forecast a drop in earnings per share this year.
The Globe's Irene Galea writes that BCE said it expects 2025 revenue in the range of a 1-per-cent increase to a 3-per-cent decline. It forecast a decline in adjusted earnings per share of 8 to 13 per cent.
The company cited continuing competitive wireless and broadband pressure, lower subscriber loading, higher media costs, increased interest expense and a larger number of common shares outstanding owing to the implementation of a discounted dividend reinvestment plan.
This was offset by lower planned capital expenditures resulting from a slowdown in BCE's fibre build, and certain efficiencies that it said would drive growth in free cash flow of 11 to 19 per cent.
In its fourth quarter ended Dec. 31, the telco added 56,550 net new postpaid wireless customers, down 56 per cent from 128,715 customers added in 2023. Analysts had expected the company to add 64,000. The company's guidance on Thursday includes maintaining its dividend payout of $3.99 per share for 2025.
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