BT’s third quarter revenues drop to £4.5bn
BT reported that Q3 2012 revenues declined 9 per cent to £4.5bn due to various regulatory decisions, while seeing an uptick in fibre-based broadband services and its enterprise segment. The service provider attributes the decline in revenue to a £66m reduction in transit revenue, including mobile termination rate reductions of £37m, and its struggling Global Services business. Ian Livingston, CEO of BT said the service provider plans to conduct more cost-cutting measures in the Global Services division this year.
Global Services revenue declined to £1.75bn from £1.89bn, Retail revenue declined 3 per cent to £1.79bn, and Wholesale revenues declined 3 per cent to £890m. One bright spot was IP Exchange, where voice minutes increased by 80 per cent during the quarter.
FierceTelecom: BT's fiscal Q3 revenue hurt by struggles in global services division, transit; TelecomTV content partner.