BT: reaffirms guidance after in-line quarter
(CercleFinance.com) - British telecoms provider BT said on Friday it was track to meet its full-year outlook after posting quarterly results in line with expectations.
Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) fell 1% at 1.96 billion pounds in the group's first quarter, driven by higher spectrum fees and content costs.
The consensus was expecting 1.9 billion pounds.
Revenue fell 1% to 5.63 billion pounds for the quarter to end-June, compared to a consensus of 5.59 billion pounds, with falls recorded at all of its consumer, enterprise and global divisions.
Britain's former telecom monopoly, which launched the UK's first 5G network in May, maintained its full-year outlook.
Earlier this year the group said that it expected revenue to fall by about 2% in the current fiscal year, with adjusted EBITDA of between 7.2 billion pounds and 7.3 billion pounds.
BT shares are currently down 4.4% at 185.40 pence, underforming the market, which is down 2%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.