Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Wealth
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Finance

    Britain’s BT maintains profit outlook despite revenue weakness

    Published by Uma Rajagopal

    Posted on November 7, 2024

    Featured image for article about Finance

    LONDON (Reuters) -BT, Britain’s biggest broadband and mobile company, reduced its full-year revenue forecast from broadly flat to down 1-2%, reflecting weaker demand in the corporate and public sectors, but kept its earnings and cash flow guidance unchanged.

    The company on Thursday reported a 3% decline in revenue for the second quarter to 5.09 billion pounds ($6.59 billion), short of analyst forecasts of 5.22 billion pounds.

    Adjusted earnings, however, met forecasts with a slight rise to 2.07 billion pounds.

    Chief Executive Allison Kirkby said BT had ramped up its full fibre build and connections, improved customer satisfaction and continued to cut costs, contributing to growth in earnings and cash flow in the first half despite the revenue drop.

    The company said it was seeing strong consumer demand for full-fibre, provided by its Openreach networks arm, with a record 446,000 net connections in the second quarter.

    However, Openreach lost 377,00 lines in the first half, a 2% reduction in its base, driven by losses to competitors and a weaker overall broadband and new homes market.

    $1 = 0.7729 pounds)

    (Reporting by Paul Sandle; Editing by Catarina Demony and Kate Holton)

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe