BT First-Quarter Revenue Gains on Rising Broadband Demand
- CEO Patterson: Ofcom recommendations are ‘broadly sensible’
- Shares advance as revenue of £5.78 billion beats estimates
BT Remain Cautiously Optimistic on Ofcom Resolution
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BT Group Plc reported a 35 percent sales jump after the acquisition of wireless carrier EE, and cited strong demand for the broadband network it’s negotiating to maintain control of with British regulators.
Adjusted revenue advanced to 5.78 billion pounds ($7.61 billion) in the three months ended June 30, the London-based company said in a statement Thursday. That compares with the 5.71 billion-pound average of three estimates compiled by Bloomberg. Adjusted earnings before interest, taxes, depreciation and amortization rose 25 percent to 1.82 billion pounds.