British telecoms company BT on Friday posted better-than-expected
third-quarter results on Friday, aided by strong demand for its Internet
Underlying profit, or earnings before interest, tax,
depreciation and amortisation (EBITDA), rose 2.0 percent to pound 1.55
billion ($2.46 billion, 1.79 billion eursos) in the three months to
December, BT said in a statement.
That compared with pound 1.52 billion
in the same period of the group's previous financial year, and beat
market expectations of pound 1.526 billion according to analysts polled by
Dow Jones Newswires.
Revenues slid six percent to pound 4.510 billion, but this was above consensus forecasts of pound 4.485 billion.
Pretax profit meanwhile grew seven percent to pound 675 million while net profits eased 1.0 percent to pound 484 million.
have made progress in a number of areas and delivered solid financial
results. These are in line with our expectations for the year, which
remain unchanged," said Chief Executive Ian Livingston in the results
In reaction to the results, BT's share price surged to the top of the leaderboard on London's FTSE 100 index.
Shares jumped 4.14 percent to 258.9 pence on the FTSE, which was 0.52 percent higher at 6,309.60 points in morning deals.