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BT Q2 2017/18 results: Unresolved issues - Venture Insights

Report Overview

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BT Q2 2017/18 results: Unresolved issues

PublisherEnders Analysis.
Publish Date November 13, 2017
Sector Fixed Line (Internet and Voice), Media, Telecom, TV, UK Media.
Company BT, EE.

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BT Group revenue growth dipped to -1.5% from an instance of rare modest positive growth in the previous quarter, albeit mostly due to a predicted price timing effect in Consumer and revenue growth predictably going from bad to worse in Global Services

The bright spots were continued strong 4% revenue growth at EE, with an acceleration in mobile-related revenue also helping other divisions, and strong growth of 5% in external revenues at Openreach driven by accelerating fibre adoption by competitor customers

A number of very important regulatory/policy/legal issues remain unresolved, including 5G spectrum auction rules, leased line pricing, FTTC pricing and FTTP roll-out rules, but without a number of these going BT’s way the outlook remains tough for at least the next 18 months