Britain's BT reaffirms guidance despite inflationary pressure
BT (BT.L) stuck to its full-year outlook on Thursday despite the pressure of high energy costs and other inflationary headwinds, as it reported a 3% dip in third-quarter adjusted revenue, just below market expectations.
Britain's biggest broadband and mobile operator said demand for faster connections was strong, with a record 155,000 customers signing up to its full-fibre products in the quarter.
Inflation-linked price rises at the start of its financial year also supported revenue, it said, although the disposal of BT Sport resulted in a decline in its biggest consumer unit in the three months to end-December.
Adjusted core earnings, up 2% in the quarter, were boosted by the BT Sport disposal in the third quarter, along with higher fixed-line and mobile service revenue and cost control, it said.
But its Enterprise unit, serving businesses and government, reported another decline in earnings, although it said the trend continued to improve.
BT reported third-quarter revenue of 5.2 billion pounds ($6.4 billion) and adjusted core earnings of 2.01 billion pounds.
($1 = 0.8073 pounds)
Inflation-linked price rises at the start of its financial year also supported revenue, it said, although the disposal of BT Sport resulted in a decline in its biggest consumer unit in the three months to end-December.
Adjusted core earnings, up 2% in the quarter, were boosted by the BT Sport disposal in the third quarter, along with higher fixed-line and mobile service revenue and cost control, it said.
But its Enterprise unit, serving businesses and government, reported another decline in earnings, although it said the trend continued to improve.
BT reported third-quarter revenue of 5.2 billion pounds ($6.4 billion) and adjusted core earnings of 2.01 billion pounds.
($1 = 0.8073 pounds)
