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...

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



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