BT Group sees FY in line despite flat Q3 earnings

By

Sharecast News | 01 Feb, 2024

17:29 08/11/24

  • 140.00
  • 2.19%3.00
  • Max: 140.35
  • Min: 136.00
  • Volume: 9,690,218
  • MM 200 : 127.54

BT Group reiterated annual guidance as it reported flat adjusted earnings for the third quarter and a rise in revenues driven by higher prices.

The telecoms provider on Thursday said adjusted core earnings for the three months to December 31 rose 1% to £2.03bn. Revenue was up 3% to £5.3bn.

On a nine-month basis adjusted revenue came in at £15.8bn, up 3% due to price increases and fibre-enabled product sales at its Openreach broadband unit and increased service revenue in its consumer division.

Telecoms providers have benefited from inflation-busting mid-contract prices rises calculated using the consumer prices index plus 3%. BT has said it will scrap the increase but not before pushing through a final rise this year.

Reporting by Frank Prenesti for Sharecast.com

Last news