BT Group Issues Upbeat Guidance on Medium-Term Earnings -- Earnings Review
29 Octubre 2020 - 7:19AM
Noticias Dow Jones
By Adria Calatayud
BT Group PLC reported results for the second quarter and first
half of fiscal 2021 on Thursday. Here's what you need to know:
ADJUSTED REVENUE: The U.K. telecommunications company said
adjusted revenue for the quarter to Sept. 30 was 5.36 billion
pounds ($6.96 billion), down 7.3% on year. This was slightly below
analysts' expectations of GBP5.39 billion, according to consensus
estimates provided by the company.
ADJUSTED EBITDA: BT's adjusted earnings before interest, taxes,
depreciation and amortization--the company's preferred profit
metric, which strips out exceptional and other one-off items--for
the quarter came in at GBP1.91 billion, down from GBP1.97 billion a
year before but beating consensus expectations of GBP1.81
billion.
WHAT WE WATCHED:
-MEDIUM-TERM GUIDANCE: BT said it expects an adjusted Ebitda of
at least GBP7.9 billion in fiscal 2023 and sustainable growth from
that level going forward. This guidance is ahead of current
consensus forecasts of GBP7.60 billion. BT said the continued
recovery from the coronavirus pandemic, enhanced sales of its
converged and growth products and significant savings under its
modernization plan will drive earnings growth.
-COVID-19 IMPACT: The company blamed its first-half sales
decline on the impact of the coronavirus pandemic, and said it
reduced BT Sport revenue and led to slower business activity in its
enterprise unit. Analysts at Bank of America Global Research said
coronavirus-related contract delays at the company's global
services unit were the main reason behind BT's slight revenue miss
in the second quarter.
-5G, FIBER ROLLOUT PLANS: BT said its full-fiber broadband
rollout reached record levels in the second quarter, and that it
has already passed 3.5 million premises. Its 5G deployment also
continues apace, with 5G networks now live in 112 towns and cities
and the company said its 5G-ready customer base now exceeds 1
million.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
October 29, 2020 09:04 ET (13:04 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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