Bell Reports Q1 Revenue of $6.17B
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 07 2026
0mins
Reports Q1 revenue $6.17B, consensus $6.09B. The company said, "Bell's Q1 results demonstrate solid execution across our four strategic priorities in a competitive environment. Fibre continues to be a key growth driver. In Canada, we added close to 43,000 residential fibre subscribers, and combined with the contribution from Ziply Fiber, total residential fibre net subscriber additions were close to 50,000 with Internet revenue growing nearly 15% year over year. Crave had its most watched quarter in its history with subscribers up 25% year over year to 4.74 million. Bell Media digital revenues grew 8% year over year, driven by Crave and sports direct-to-consumer streaming subscriber growth. Last year, we outlined our strategy for AI-powered enterprise solutions and introduced three businesses - Ateko, Bell Cyber and Bell AI Fabric. Since then, we've made big strides, reflecting Bell's unique position in the Canadian market that intersects connectivity, deep relationships with Canada's biggest enterprises and now purpose-built AI infrastructure. For the first time, we're disclosing revenue for Bell Business Markets, which was up 9.7%, driven by 113% growth in AI-powered solutions revenue. In addition to executing on our four strategic priorities, we've been making progress on our capital allocation and capital investment plans to simplify the business, strengthen the balance sheet and focus capital on higher-return opportunities. We will continue to execute on our plan as outlined at Investor Day 2025 as we look to create long-term value for our shareholders."
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Analyst Views on BCE
Wall Street analysts forecast BCE stock price to rise
11 Analyst Rating
6 Buy
5 Hold
0 Sell
Moderate Buy
Current: 23.280
Low
24.34
Averages
27.57
High
32.45
Current: 23.280
Low
24.34
Averages
27.57
High
32.45
About BCE
BCE Inc. is a Canada-based communications company. The Company provides advanced Bell broadband Internet, wireless, television (TV), media and business communications services. The Company operates through two segments: Bell Communication and Technology Services (Bell CTS) and Bell Media. The Bell CTS segment includes providing a range of communication products and services to consumers, businesses and government customers across Canada; wireless products and services; wireline products and services, and its wholesale business. Its brands include Bell, Bell MTS, Bell Aliant, Virgin Plus, Fibe, Lucky Mobile and Northwestel. The Bell Media segment is a media and entertainment company with a portfolio of assets in video, audio and OOH advertising, and digital media, monetized through traditional and digital platforms. The Company also serves customers in the United States Pacific Northwest through Ziply Fiber.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Canadian Tech Giants Forge Major AI Infrastructure Deal
- AI Infrastructure Collaboration: Bell Canada, Cohere, Hypertec, and BUZZ HPC have announced a major AI infrastructure deal aimed at leveraging Canadian resources to advance the development and deployment of sophisticated AI workloads, marking a significant step forward in Canada's digital sovereignty and economic resilience.
- Data Center and Connectivity Services: Under the agreement, Bell will provide dedicated data center and connectivity services from its Merritt, British Columbia facility, ensuring efficient operation of AI workloads while meeting enterprise and government clients' needs for data control and security.
- High-Performance Computing Capabilities: BUZZ HPC will deliver an AI-native cloud layer using Hypertec's manufactured hardware cluster and NVIDIA accelerated computing, supporting production-grade AI workloads and further enhancing Canada's competitiveness in the global AI market.
- Advancing Domestic AI Development: This collaboration not only fosters integration within Canada's AI ecosystem but also helps enterprises transition from AI experimentation to large-scale deployment by providing robust infrastructure and technical support, ensuring Canada's competitiveness in the global AI economy.
See More
Canadian Tech Giants Forge Major AI Infrastructure Deal
- AI Infrastructure Collaboration: Bell Canada, Cohere, Hypertec, and BUZZ HPC have announced a significant AI infrastructure deal aimed at leveraging Canadian resources to advance the development and deployment of AI workloads, marking a major step forward in Canada's digital sovereignty and economic resilience.
- Enhanced Data Center Capacity: Under the agreement, Bell will provide data center capacity and connectivity services from its Merritt, British Columbia facility, specifically designed for AI workloads, ensuring the availability of high-performance infrastructure to meet the growing demand for AI.
- Secure Enterprise Solutions: Cohere will utilize this platform to operate its foundational models and provide secure enterprise-grade AI solutions for government and enterprise customers, further enhancing Canada's competitiveness and data security in the AI sector.
- Fostering Local Innovation: This collaboration not only integrates Bell's connectivity, data centers, and computing capabilities but also supports local enterprises in AI innovation through BUZZ HPC's AI cloud layer and Hypertec's hardware, promoting Canada's competitiveness in the global AI economy.
See More
Canadian Tech Giants Forge Major AI Infrastructure Deal
- AI Infrastructure Collaboration: Bell Canada, Cohere, Hypertec, and BUZZ HPC have announced a significant AI infrastructure deal aimed at leveraging Canadian resources to advance the development and deployment of AI workloads, marking a major step forward in Canada's digital sovereignty and economic resilience.
- Data Center and Computing Capacity: Under the agreement, Bell will provide dedicated data center and connectivity services from its facility in British Columbia, while BUZZ HPC will utilize Hypertec's hardware cluster and NVIDIA accelerated computing to support production-grade AI workloads, ensuring data security and performance.
- Growing Market Demand: As AI technology rapidly evolves, the demand for high-performance infrastructure from enterprises and governments is increasing, and this collaboration not only enhances Canada's competitiveness in the AI sector but also provides strong economic support for customers.
- Strategic Implications: This partnership reflects the growing collaboration among Canadian tech leaders, aiming to drive the practical application of AI technologies through local infrastructure and partnerships, ensuring Canada's competitive position in the global AI economy.
See More
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- Acquisition Scale: Bell Canada has announced a cash purchase of $1.45 billion to acquire its debt, indicating the company's proactive approach to optimizing its capital structure aimed at reducing financial costs and enhancing liquidity.
- Market Reaction: This acquisition plan may have a neutral impact on Bell Canada's stock price, as market reactions to its debt management strategy remain unclear, necessitating observation of subsequent execution effects.
- Financial Strategy: Through this debt acquisition, Bell Canada is expected to improve its balance sheet and enhance its credit rating, thereby providing more favorable financing conditions for future investments and expansions.
- Industry Context: In the current interest rate environment, corporate debt restructuring to optimize financial conditions has become a trend, and this acquisition reflects Bell Canada's strategic intent to seek stronger financial flexibility in a competitive industry.
See More
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- Bond Details: The first series consists of 4.70% MTN debentures priced at C$99.815 per C$100 principal, yielding 4.723% and maturing on November 15, 2036; the second series features 5.30% MTN debentures priced at C$99.568 per C$100 principal, yielding 5.329% and maturing on June 3, 2056, reflecting the company's focus on long-term financing.
- U.S. Market Expansion: Bell is also offering $650 million in 5.450% Series US-11 notes in the U.S., priced at $99.917 per $100 principal, yielding 5.461% and maturing on November 15, 2036, showcasing the company's ability to tap into international financing markets.
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See More
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- Strategic Partnership: Bell Canada has formalized a long-term partnership with Bird Construction to support the construction of a 300 MW data center in Sherwood, Saskatchewan, marking a significant step in Bell AI Fabric's strategy to advance domestic AI infrastructure nationwide.
- Project Implementation Details: The first phase of the Sherwood facility is expected to come online in the first half of 2027, with Bird Construction serving as the lead partner to ensure timely delivery while prioritizing local and Indigenous workforce participation.
- Economic Development Commitment: Through an agreement with George Gordon First Nation, Bird Construction will enhance Indigenous procurement and workforce development, reflecting a shared commitment to economic growth and creating sustainable business opportunities in the region.
- Equity Incentive Mechanism: As part of the strategic partnership, Bird will issue Bell warrants to acquire up to 2,625,000 common shares, further solidifying their collaboration on future AI data center projects.
See More
Canadian Tech Giants Forge Major AI Infrastructure Deal
- AI Infrastructure Collaboration: Bell Canada, Cohere, Hypertec, and BUZZ HPC have announced a major AI infrastructure deal aimed at leveraging Canadian resources to advance the development and deployment of sophisticated AI workloads, marking a significant step forward in Canada's digital sovereignty and economic resilience.
- Data Center and Connectivity Services: Under the agreement, Bell will provide dedicated data center and connectivity services from its Merritt, British Columbia facility, ensuring efficient operation of AI workloads while meeting enterprise and government clients' needs for data control and security.
- High-Performance Computing Capabilities: BUZZ HPC will deliver an AI-native cloud layer using Hypertec's manufactured hardware cluster and NVIDIA accelerated computing, supporting production-grade AI workloads and further enhancing Canada's competitiveness in the global AI market.
- Advancing Domestic AI Development: This collaboration not only fosters integration within Canada's AI ecosystem but also helps enterprises transition from AI experimentation to large-scale deployment by providing robust infrastructure and technical support, ensuring Canada's competitiveness in the global AI economy.
See More
Canadian Tech Giants Forge Major AI Infrastructure Deal
- AI Infrastructure Collaboration: Bell Canada, Cohere, Hypertec, and BUZZ HPC have announced a significant AI infrastructure deal aimed at leveraging Canadian resources to advance the development and deployment of AI workloads, marking a major step forward in Canada's digital sovereignty and economic resilience.
- Enhanced Data Center Capacity: Under the agreement, Bell will provide data center capacity and connectivity services from its Merritt, British Columbia facility, specifically designed for AI workloads, ensuring the availability of high-performance infrastructure to meet the growing demand for AI.
- Secure Enterprise Solutions: Cohere will utilize this platform to operate its foundational models and provide secure enterprise-grade AI solutions for government and enterprise customers, further enhancing Canada's competitiveness and data security in the AI sector.
- Fostering Local Innovation: This collaboration not only integrates Bell's connectivity, data centers, and computing capabilities but also supports local enterprises in AI innovation through BUZZ HPC's AI cloud layer and Hypertec's hardware, promoting Canada's competitiveness in the global AI economy.
See More
Canadian Tech Giants Forge Major AI Infrastructure Deal
- AI Infrastructure Collaboration: Bell Canada, Cohere, Hypertec, and BUZZ HPC have announced a significant AI infrastructure deal aimed at leveraging Canadian resources to advance the development and deployment of AI workloads, marking a major step forward in Canada's digital sovereignty and economic resilience.
- Data Center and Computing Capacity: Under the agreement, Bell will provide dedicated data center and connectivity services from its facility in British Columbia, while BUZZ HPC will utilize Hypertec's hardware cluster and NVIDIA accelerated computing to support production-grade AI workloads, ensuring data security and performance.
- Growing Market Demand: As AI technology rapidly evolves, the demand for high-performance infrastructure from enterprises and governments is increasing, and this collaboration not only enhances Canada's competitiveness in the AI sector but also provides strong economic support for customers.
- Strategic Implications: This partnership reflects the growing collaboration among Canadian tech leaders, aiming to drive the practical application of AI technologies through local infrastructure and partnerships, ensuring Canada's competitive position in the global AI economy.
See More
Bell Canada to Acquire Debt for $1.45 Billion
- Acquisition Scale: Bell Canada has announced a cash purchase of $1.45 billion to acquire its debt, indicating the company's proactive approach to optimizing its capital structure aimed at reducing financial costs and enhancing liquidity.
- Market Reaction: This acquisition plan may have a neutral impact on Bell Canada's stock price, as market reactions to its debt management strategy remain unclear, necessitating observation of subsequent execution effects.
- Financial Strategy: Through this debt acquisition, Bell Canada is expected to improve its balance sheet and enhance its credit rating, thereby providing more favorable financing conditions for future investments and expansions.
- Industry Context: In the current interest rate environment, corporate debt restructuring to optimize financial conditions has become a trend, and this acquisition reflects Bell Canada's strategic intent to seek stronger financial flexibility in a competitive industry.
See More
Bell Canada Announces Concurrent Multi-Tranche Offerings to Raise Capital
- Capital Raising: Bell Canada is set to conduct concurrent public offerings in Canada and the U.S. to raise a total of C$1.6 billion, which includes C$900 million in 4.70% MTN debentures and C$700 million in 5.30% MTN debentures, indicating strong demand in the capital markets.
- Bond Details: The first series consists of 4.70% MTN debentures priced at C$99.815 per C$100 principal, yielding 4.723% and maturing on November 15, 2036; the second series features 5.30% MTN debentures priced at C$99.568 per C$100 principal, yielding 5.329% and maturing on June 3, 2056, reflecting the company's focus on long-term financing.
- U.S. Market Expansion: Bell is also offering $650 million in 5.450% Series US-11 notes in the U.S., priced at $99.917 per $100 principal, yielding 5.461% and maturing on November 15, 2036, showcasing the company's ability to tap into international financing markets.
- Use of Proceeds: The proceeds from these offerings will be utilized for debt repayment and general corporate purposes, including ongoing tender offers, demonstrating Bell's strategic intent to optimize its capital structure and enhance financial flexibility.
See More
Bell Canada Partners with Bird Construction for AI Data Centre Development
- Strategic Partnership: Bell Canada has formalized a long-term partnership with Bird Construction to support the construction of a 300 MW data center in Sherwood, Saskatchewan, marking a significant step in Bell AI Fabric's strategy to advance domestic AI infrastructure nationwide.
- Project Implementation Details: The first phase of the Sherwood facility is expected to come online in the first half of 2027, with Bird Construction serving as the lead partner to ensure timely delivery while prioritizing local and Indigenous workforce participation.
- Economic Development Commitment: Through an agreement with George Gordon First Nation, Bird Construction will enhance Indigenous procurement and workforce development, reflecting a shared commitment to economic growth and creating sustainable business opportunities in the region.
- Equity Incentive Mechanism: As part of the strategic partnership, Bird will issue Bell warrants to acquire up to 2,625,000 common shares, further solidifying their collaboration on future AI data center projects.
See More
