BT Group Plc earnings were in line with estimates in its third fiscal quarter, leaving investors focused on Chief Executive Officer Philip Jansen’s full-year earnings target.
(Bloomberg) — BT Group Plc earnings were in line with estimates in its third fiscal quarter, leaving investors focused on Chief Executive Officer Philip Jansen’s full-year earnings target.
The London-based telecom group’s adjusted earnings before interest, tax, depreciation and amortization were £2 billion ($2.5 billion), it said in a statement Thursday. That compared to an estimate of £2 billion from six analysts surveyed by Bloomberg.
Four years into Jansen’s tenure leading the company, BT shares have lost almost half their value as he has confronted energy inflation, strikes, a darkening macroeconomic outlook, and a ban on key supplier Huawei Technologies Co.
Key Insights
- BT reaffirmed its outlook “despite inflationary headwinds,” with revenue in first 9 months down 1% to £15.6 billion.
- Billionaire Patrick Drahi’s Altice Group, which is the largest shareholder of BT with a 18% stake, believes the company is undervalued, a financial adviser to the group said this week.
Market Context
- BT shares fell 37% in the 12 months through Wednesday, versus a 2.4% increase in the FTSE 100 Index.
- Of the 24 analysts surveyed by Bloomberg, 16 rate the stock Buy, 5 Hold and 3 Sell.
Get More
- NOTE, Jan. 31: Billionaire Drahi’s Altice Sees BT Group as ‘Undervalued’
- NOTE, Jan. 17: Phone Bills to Jump by Around 14% Amid UK’s Stubborn Inflation
- NOTE, Dec. 8: BT Pension Fund May Need to Get More Support From Telecoms Group
- NOTE, Nov. 28: BT Group Agrees to Cost-of-Living Pay Raise in UK to End Walkout
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