BT's Q3 core earnings meet forecasts
LONDON Feb 8 (Reuters) - Britain's BT Group Plc (BT.L) posted third-quarter underlying core earnings in line with forecasts on strong revenue growth on Thursday and kept a strong outlook amid an increase in the pace of net retail broadband additions.
The former UK telecoms monopoly reported underlying earnings before interest, tax, depreciation and amortisation (EBITDA) before specific items and staff leaving costs of 1.44 billion pounds ($2.84 billion) for the three months to Dec. 31 compared with 1.40 billion in the year-earlier period.
Britain's biggest fixed-line telecoms provider said it expected to continue to grow its revenue, EBITDA, earnings per share and dividends this financial year and next.
BT's revenue rose 5 percent to 5.126 billion pounds, ahead of forecasts, helped by a 17 percent rise in so-called new wave revenues from broadband Internet and corporate networked IT services, areas BT is increasingly reliant upon to counter a decline in its fixed-line business.
Analysts had on average forecast EBITDA of 1.44 billion, with estimates ranging between 1.43 billion and 1.45 billion pounds. Revenue forecasts ranged between 5.01 billion and 5.06 billion pounds.
BT's retail unit's share of net broadband additions rose to 34 percent during the quarter from 25 percent during the preceding three-month period.
((Reporting by Santosh Menon
Reuters Messaging
rm://santosh.r.menon.reuters.com@reuters.net
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