Feb 2, 2018

BT loses 5,000 pay-TV customers as revenue falls

BT lost 5,000 pay-TV customers in the third quarter as the telecoms company announced weaker-than-expected results. It reported a 3 per cent decline in revenue to £6bn as pre-tax profit grew 25 per cent to £660m, which reflected a weaker performance in the third quarter of its previous financial year. EE, the mobile division, was the only part of BT to report revenue growth, with a 4 per cent rise during the quarter. The numbers missed revenue forecasts by 1 per cent and earnings by 2 per cent, excluding a one-off £20m gain, according to Jefferies analyst Jerry Dellis. Gavin Patterson, chief executive of BT, said the company had maintained its full-year outlook of a flat revenue performance and remained confident in the company's strategy.

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