BT Group 3Q Adjusted Earnings, Revenue Fall But Exceed Views
February 04 2021 - 1:45AM
Dow Jones News
By Adria Calatayud
BT Group PLC said Thursday that third-quarter adjusted earnings
and revenue both fell but came in slightly ahead of consensus
expectations and reiterated its earnings guidance for the full
year.
The U.K. telecommunications company said adjusted earnings
before interest, taxes, depreciation and amortization for the
quarter to Dec. 31 were 1.88 billion pounds ($2.57 billion)
compared with GBP1.98 billion for the same period last year.
Adjusted revenue was GBP5.48 billion, down 5.2% on year.
Analysts expected quarterly adjusted Ebitda of GBP1.85 billion
on revenue of GBP5.46 billion, according to consensus forecasts
provided by the company.
BT's pretax profit for the first nine months of fiscal 2021 fell
16% to GBP1.59 billion.
The company said it continues to expect adjusted Ebitda for the
full year to be between GBP7.3 billion and GBP7.5 billion, and
raised the lower end of its normalized free cash-flow guidance
range to GBP1.3 billion from GBP1.2 billion.
BT now expects fiscal 2021 normalized free cash flow to be
between GBP1.3 billion and GBP1.5 billion.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
February 04, 2021 02:30 ET (07:30 GMT)
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