Operating under the name Bell Canada, BCE is Canada's largest communications company based on revenue. The company has two operating segments: Bell Communications and Technology Services and Bell Media. The company's largest competitors are Rogers Communications Inc. and Telus Corp.

Earnings season is now more than halfway over. About 700 public companies will report this week, and some key inflation data will be released. Last week, the Dow Jones Industrial Average gained 0.2%, the S&P 500 rose 2%, and the Nasdaq gained 4.5%. Year to date, all three indices are in positive territory. The Dow is now up 3%, the S&P 500 is higher by 8%, and the Nasdaq is up 13%. On the earnings calendar, highlights this week include Constellation Energy and Fox Corp on Monday; Cisco Systems on Wednesday; and Applied Materials on Thursday. Some 83% of S&P 500 companies have reported so far, and overall earnings are up a big 29% from last quarter. Communication Services, up 55%, and Information Technology, up 53%, are leading the pack. At the bottom are Healthcare, down 3%, and Energy, down 1%, according to LSEG I/B/E/S. Note that next week, Nvidia and Walmart report. On the economic calendar, Existing Home Sales data will be reported on Monday; the Consumer Price Index (inflation) is due on Tuesday; the Producer Price Index (wholesale inflation) comes out on Wednesday; and data on Retail Sales will be released on Thursday. As well, many Federal Reserve officials speak publicly this week. Gas prices jumped $0.33 cents last week and are now at an average of $4.45 per gallon for regular gas. The Atlanta Fed GDPNow now forecasts 3.7% GDP growth in the first quarter. That's a big jump from the 1.2% forecast given just a few weeks ago. The Cleveland Fed Inflation Nowcast calls for a CPI print of 3.6% for April and 3.9% for May. Those compare to a 3.3% reading in March. Mortgage rates moved higher last week, up 7 basis points, with the average 30-year fixed-rate mortgage now at 6.37%, according to FreddieMac. The next Federal Open Market Committee (FOMC) meeting is on June 17. Odds are at 6% for a rate cut. President Trump's nominee to be the next Fed chairman, Kevin Warsh, has been voted through on the Senate side. The next step is to be confirmed by the House of Representatives. Jerome Powell's term as chairman expires on May 15 and he has said that he will remain on the committee as a governor. Taking a deeper dive into performance so far in 2026, a leading industrialized global stock market index, the ETF EFA, is up 8% year to date. The leading emerging market ETF (EEM) is up 24% year to date. U.S. growth stocks are up 4% year to date looking at ETF IWF, while value stocks (IWD) are up 10%. Crude oil prices continue to be volatile. On Friday, oil was at $95 per barrel, up 63% for the year so far. In other asset classes for the year to date, AGG bonds are down 1%, gold is up 8%, and Bitcoin is down 8%. The U.S. dollar is flat, tracking DXY. The VIX volatility index was at 17 on Friday, below its historical average of 20. Turning to sector performance, the list from first to worst so far in 2026 (and as of April 30) is Energy (+32%), Industrials (+13%), Materials (+12%), Real Estate (+11%), Consumer Staples (+10%), Utilities (+10%), Communication Services (+10%), Information Technology (+7%), Consumer Discretionary (+1%), Financials (-5%), and Healthcare (-6%). By comparison, the S&P 500 is up 8% year to date.

BCE provides wireless, broadband, television, and landline phone services in Canada. It is one of the Big Three national wireless carriers, with over 10 million customers constituting about 30% of the market. It is also the incumbent local exchange carrier—the legacy telephone provider—throughout much of the eastern half of Canada, including in the most populous Canadian provinces: Ontario and Quebec. BCE has a media segment that holds television, radio, and digital media assets. BCE licenses the Canadian rights to HBO Max and Starz.

Operating under the name Bell Canada, BCE is Canada's largest communications companies based on revenue. The company has two operating segments: Bell Communication and Technology Services and Bell Media. The company's largest competitors are Rogers Communications and Telus Corporation. We note that results are reported in Canadian dollars and converted to U.S. dollars using the average exchange rate on the date of the company's earnings release for the purposes of our report and estimates. At the end of 2024, the company had about 10.3 million mobile phone subscribers and operating revenues were just over $24.4 billion, down about 1% from 2023. Of last year's revenues, about 89% were from Bell CTS Canada. The current market cap is about $24 billion.