We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
80,259 News Articles

Broadband offsets BT's Q3 slide

Fat pipes make money

BT today reported a drop in earnings and revenue for the third-quarter 2003, but said its broadband and mobile services offset declines in its traditional voice business.

The company reported revenue of £4.58 billion for its third quarter, down 2.6 percent on the same quarter last year.

Earnings before interest, taxes, depreciation and amortization for the quarter came in at £1.47 billion, down three percent from a year ago. Earnings per share rose seven percent, however, to 4.4p from 4.1p in the third quarter of 2002.

"New wave" revenue, a term the company used to cover newer technologies such as broadband, mobility and managed services, rose 31 percent in the quarter to £838 million, while revenue from BT's traditional business fell eight percent, the company announced in a statement.

BT's retail division saw revenue of £3.33 billion, down five percent from £3.52 billion in the third quarter of 2002. Within BT Retail, the largest increase came from broadband: revenue from broadband service grew 161 percent to £81 million from £31 million the previous year.

The wholesale division reported revenue of £2.68 billion, down six percent from £2.85 billion a year earlier, while BT Global Services cited a nine percent revenue increase to £1.41 billion.

The company won contracts worth over £2 billion in the past quarter and reduced its debt by 32 percent to £8.80 billion.


IDG UK Sites

Acer Aspire R11 review: Hands-on with the 360 laptop and tablet convertible

IDG UK Sites

Apple Watch release day: Twitter reacts

IDG UK Sites

See how Framestore created a shape-shifting, oil and metal based creature for Shell

IDG UK Sites

Apple Watch buying guide, price list & where to buy today: Which Apple Watch model, size, material,?......