Broadband boosts BT revenue

News

Broadband boosts BT revenue

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

The company reported revenue of £4.58bn for its third quarter, down 2.6% on the same quarter last year

Earnings before interest, taxes, depreciation and amortisation for the quarter came in at £1.47bn, down 3% from a year ago.

"New wave" revenue, a term the company used to cover newer technologies such as broadband, mobility and managed services, rose 31% in the quarter to £838m, while revenue from BT's traditional business fell 8%.

BT's retail division saw revenue of £3.33bn, down 5% from £3.52bn in the third quarter of 2002.

Within BT Retail, the largest increase came from broadband, with revenue growing by 161% to £81m from £31m the previous year.

The wholesale division reported revenue of £2.68bn, down 6% from £2.85bn a year earlier, while BT Global Services cited a 9% revenue increase to £1.41bn.

The company won contracts worth more than £2bn in the past quarter and reduced its debt by 32% to £8.80bn.

Gillian Law writes for IDG News Service


Email Alerts

Register now to receive ComputerWeekly.com IT-related news, guides and more, delivered to your inbox.
By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy
 

COMMENTS powered by Disqus  //  Commenting policy