BT Group Reports Strong First Quarter Results

BT Group has announced its financial results for the first quarter of the fiscal year, expressing confidence in meeting its full-year guidance. The telecommunications giant saw a growth in revenue and adjusted Ebitda, attributing it to robust cost control practices and increased revenue.

For the three-month period ending June 30, BT Group reported a pretax profit of £536 million ($693.7 million), a notable increase compared to £482 million during the same period last year. The company's adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda) for the quarter reached £2.03 billion, surpassing the previous year's £1.95 billion. Analysts had anticipated an adjusted Ebitda of £2.0 billion, according to industry consensus.

Furthermore, BT Group's adjusted revenue for the quarter reached £5.16 billion, as opposed to £4.98 billion for the corresponding period last year. Analysts had predicted revenue of £5.12 billion for the quarter.

Chief Executive Philip Jansen stated, "We are pleased with our strong start to the year, especially given the competitive landscape we operate within. Our strategy continues to show promising results as we march forward."

BT Group maintains its positive outlook for the rest of the fiscal year, expecting continued revenue and Ebitda growth on a pro-forma basis. The company also projects capital expenditure (excluding spectrum) between £5.0 billion and £5.1 billion, along with normalized free cash flow ranging from £1.0 billion to £1.2 billion.