BT: shares edge lower after results fail to impress.
(CercleFinance.com) - BT said it has delivered an encouraging performance in the first quarter of the year, helped by mobile, with a 2 per cent rise in total quarterly revenue.
The group posted revenue of 5.84 billion pounds for the first quarter to 30 June, versus consensus of 5.81 billion pounds, while profit before tax fell 42 per cent to 418 million pounds in reported terms.
Before specific items, adjusted profit before tax was down just 1 per cent at 791 million pounds over the quarter.
Mobile postpaid net subscriber additions reached 210,000, with churn remaining low at 1.1%, while fibre broadband surpassed the number of 26.8 million UK households.
"The modest beat is encouraging but we note the shares have rallied into these numbers," commented UBS after the results.
The BT stock was seeing some profit-taking this morning, losing almost three per cent at 306.8 pence.
Additionally, the telecoms operator plans to continue to simplify and streamline its business and rationalise costs.
BT said that its consumer and EE divisions will be brought together to drive converged products and accelerate transformation.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The group posted revenue of 5.84 billion pounds for the first quarter to 30 June, versus consensus of 5.81 billion pounds, while profit before tax fell 42 per cent to 418 million pounds in reported terms.
Before specific items, adjusted profit before tax was down just 1 per cent at 791 million pounds over the quarter.
Mobile postpaid net subscriber additions reached 210,000, with churn remaining low at 1.1%, while fibre broadband surpassed the number of 26.8 million UK households.
"The modest beat is encouraging but we note the shares have rallied into these numbers," commented UBS after the results.
The BT stock was seeing some profit-taking this morning, losing almost three per cent at 306.8 pence.
Additionally, the telecoms operator plans to continue to simplify and streamline its business and rationalise costs.
BT said that its consumer and EE divisions will be brought together to drive converged products and accelerate transformation.
Copyright (c) 2017 CercleFinance.com. All rights reserved.