BT has announced a steady set of Q4 results this morning, with a 4% decline in topline revenue to $4.9bn, or a 2.0% decline using BT’s preferred measure of revenue growth that excludes legacy network transit business. For the year as a whole, revenue excluding transit was down 1.9%.
The profit performance is solid too. BT has hit its £6bn EBITDA total a year early, and EPS increased at a double digit rate for the 10th consecutive quarter.
Revenues at BT Global Services fell 4% in the quarter, but the 8% improvement in the order book year-on-year in the quarter was more encouraging.
We’ll have more comment for HotViewsExtra subscribers following this morning’s call with BT management.