BT BT Group PLC

   By Adria Calatayud 
 

BT Group PLC (BT.A.LN) reported its earnings for the third quarter of fiscal 2018 on Friday. Here is how the results came in:

PRETAX PROFIT: The FTSE 100 telecommunications company missed consensus forecasts for third-quarter pretax profit and revenue, sending shares down more than 5% in morning trade. BT made a pretax profit of 660 million ($939 million) for the quarter ended Dec. 31, slightly below the consensus of GBP661 million.

REVENUE: BT had revenue of GBP5.97 billion. This represents a 1.6% miss compared with the analyst consensus estimate provided by the company of GBP6.06 billion.

WHAT WE WATCHED:

PENSION REVIEW: BT said it is appealing a U.K. High Court rejection of the company's request to link pension-payment increases to a lower inflation measure. The company also said the triennial valuation of its pension scheme is proceeding and that it continues to hold constructive talks with the trustees.

OFCOM DISPUTE: Chief Executive Gavin Patterson said BT is working closely with the U.K. government, the telecommunications regulator and its customers to expand its deployment of broadband fiber. The British Office of Communications, or Ofcom, is expected by analysts to decide over the next few weeks on a cap to the prices that BT's Openreach unit prices charges other providers to access its physical infrastructure.

EBITDA GUIDANCE: The company backed its outlook for fiscal 2018, saying that it is confident in meeting its targets. The company had previously guided for a full-year adjusted earnings before interest, taxes, depreciation and amortization of between GBP7.5 billion and GBP7.6 billion.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

(END) Dow Jones Newswires

February 02, 2018 05:58 ET (10:58 GMT)

BT (NYSE:BT)
Historical Stock Chart
From Mar 2024 to Apr 2024

BT (NYSE:BT)
Historical Stock Chart
From Apr 2023 to Apr 2024