BT Group sees FY in line despite flat Q3 earnings

1st Feb 2024 07:01

(Sharecast News) - 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