(Sharecast News) - UK telecoms and broadcasting group BT reported better-than-expected first-quarter core earnings as trading improved across most of its businesses.
The company reported adjusted earnings before interest, tax, depreciation and amortisation of £1.87bn, up 3% and against expectations of £1.81bn. Revenue for the three months to June 30 fell 3% to £5.07bn.
On a reported pre-tax basis profits fell 4% to £536m.
Chief Executive Philip Jansen said the results were in line with expectations, as a good UK performance offset challenging conditions in markets for its Global unit.
"With trading conditions expected to see some improvement through the year, we have confirmed our outlook and remain confident that BT is on a path to growth," he added.
Jansen said the company had now built full fibre broadband to more than five million premises, and demand was increasing for faster connections.
BT (BT.A)1 May 2024 09:26
LONDON BROKER RATINGS: UBS double upgrades AJ Bell to 'buy'
(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday: