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BT shares take a hit, but is still most popular broadband provider

In its latest quarter results, the BT Retail company netted 103,000 new customers as it reported earnings for the three months to end of June.

BT’s latest earnings before EBITDA (interest, tax, depreciation and amortisation) was up 1 percent to £1.43 billion. This was slightly below analyst forecasts of 1.45 billion.  BT shares were down around 14 percent following the results.

BT’s wholesale division saw a 16 per cent fall in revenue to £849m as ISPs move over to using the more cost effective BT Openreach division to supply broadband connections.

Free cash outflow hit £734 million which caused negative sentiment from analysts.  However, Chief Executive Ian Livingston was upbeat on the results: “Our full year guidance remains unchanged – we continue to expect to deliver growth in revenue, EBITDA3, earnings per share3 and dividends per share in this financial year”.

See the full trading update