BT: slight rise in quarterly earnings

(CercleFinance.com) - BT reports adjusted sales of £5.
18 billion for the 3rd quarter of its fiscal year (Oct.-Nov.-Dec.), reflecting a decline in activity of around 3% compared with the same period a year earlier.Dec.), reflecting a decline in activity of around 3% compared with the same period a year earlier.

At the same time, adjusted EBITDA was up 4% to £2.1 billion, while pre-tax profit was up 1% to £427 million.

BT reports that EBITDA growth was partly offset by higher net finance costs and depreciation and amortization.

'Our modernization continues apace, with further progress in fiber build and adoption, customer satisfaction and EBITDA. The benefits of our cost transformation more than compensate for lower revenues outside the UK and weak cell phone sales', emphasized CEO Allison Kirkby.

'BT's continued performance keeps us on track to achieve our financial guidance for this year, as well as our cash flow inflection to around £2 billion in 2027 and around £3 billion by the end of the decade', she added.

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