BT Group 2Q Fiscal Year 2021 Adjusted Earnings Fell; Raises Lower End of Guidance
29 Ottobre 2020 - 8:58AM
Dow Jones News
By Adria Calatayud
BT Group PLC said Thursday that adjusted earnings for the second
quarter of fiscal 2021 fell less than analysts expected even though
its revenue was weaker than anticipated, and raised the lower end
of its full-year profit guidance.
The U.K. telecommunications company said adjusted earnings
before interest, taxes, depreciation and amortization--the
company's preferred profit metric, which strips out exceptional and
other one-off items--were 1.91 billion pounds ($2.48 billion) for
the quarter to Sept. 30, down from GBP1.97 billion for the same
period a year earlier.
BT's adjusted revenue for the quarter fell 7.3% to GBP5.36
billion.
Analysts expected BT to report quarterly adjusted Ebitda of
GBP1.81 billion on adjusted revenue of GBP5.39 billion, according
to consensus numbers provided by the company.
For the first half of the year, BT made a pretax profit of
GBP1.06 billion compared with GBP1.33 billion for the year-earlier
period on revenue that fell 7.6% to GBP10.59 billion.
The company raised the lower end of its adjusted Ebitda outlook
range for fiscal 2021 to GBP7.3 billion from GBP7.2 billion. As a
result, the company now expects adjusted Ebitda for the full year
to be between GBP7.3 billion and GBP7.5 billion.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
October 29, 2020 03:43 ET (07:43 GMT)
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