Core Insights - BCE Inc. reported a consolidated revenue growth of 1.3% in Q3 2025, with adjusted EBITDA increasing by 1.5% year-over-year, reflecting the company's strategic focus on customer service and network improvements [3][16][18] - Net earnings for Q3 2025 reached $4,555 million, a significant recovery from a net loss of $1,191 million in Q3 2024, driven by gains on investments and lower asset impairments [17][18] - The acquisition of Ziply Fiber contributed positively, with the new Bell CTS U.S. segment generating $160 million in operating revenue and $71 million in adjusted EBITDA, indicating a successful integration [4][20][38] Financial Performance - Operating revenues for BCE were $6,049 million in Q3 2025, up from $5,971 million in Q3 2024, attributed to a 0.8% increase in service revenue and a 5.1% rise in product revenue [16][18] - Free cash flow increased by 20.6% to $1,003 million, supported by higher cash flows from operating activities and lower capital expenditures [3][19][63] - Adjusted net earnings rose by 6.5% to $733 million, leading to an adjusted EPS of $0.79, up 5.3% from the previous year [17][18] Subscriber Metrics - Bell CTS Canada experienced a reduction in postpaid mobile phone subscribers by 51,541, while the total mobile phone customer base increased by 0.4% to 10,398,934 [7][35] - Retail high-speed Internet net subscriber activations totaled 26,111, contributing to an 11.2% growth in Internet revenue [3][37] - Crave subscriptions reached 4.3 million, driven by a 67% increase in direct-to-consumer streaming subscribers [43] Strategic Initiatives - BCE's three-year strategic plan focuses on sustainable free cash flow growth through investments in fiber, wireless, AI-powered enterprise solutions, and digital media [5][10] - The company is expanding its wireless infrastructure, including a partnership with the Government of New Brunswick to enhance 5G access [14] - BCE launched Bell Cyber, a unified cybersecurity platform, and formed a strategic partnership with Simon Fraser University to advance AI and supercomputing initiatives in Canada [14][18] Segment Performance - Bell CTS U.S. reported operating revenues of $160 million and adjusted EBITDA of $71 million, reflecting strong performance post-acquisition of Ziply Fiber [20][38] - Bell Media's operating revenue decreased by 6.4% to $732 million, primarily due to lower advertising and subscriber revenues [39][42] - Bell CTS Canada saw a slight decline in operating revenue by 0.6% to $5,248 million, with service revenue down 1.5% [29][30]