The telecom giant’s annual profit plunged nearly 84 per cent to $375 million in 2024 compared to 2023, despite an uptick in the last quarter. Meanwhile, average revenue from each mobile phone customer dipped two per cent.  (The Logic)

Talking point: Bell slowed the rollout of fibre-optic wires to save money, but will continue paying annualized dividends of $3.99 per common share. The telco said it’s dealing with “an uncertain macroeconomic and regulatory environment” and pressures to lower prices in what CFO Curtis Millen called a “hyper-competitive” market. That was reflected in its outlook: revenue for the coming fiscal year could increase one per cent in the best case—or shrink by as much as three per cent more. Bell’s stock price fell about five per cent, leaving it valued at less than half its recent peak in 2022. After Rogers, Bell is the second of the Big Three Canadian telcos to report its 2024 financials; Telus’s are due next Thursday.