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