BT says it is on track after reporting in-line third quarter

BT, Britain's biggest broadband and mobile operator, said it remained on track for the year after reporting a 5% drop in both adjusted revenue and core earnings for its third quarter, a fall it mainly put down to the impact of COVID-19.

"We delivered results in line with our expectations for the third quarter and remain on track to deliver our 2020/21 outlook despite even greater COVID-19 restrictions than previously forecast," Chief Executive Philip Jansen said on Thursday. It reported adjusted revenue of 5.477 billion pounds ($7.44 billion) and core earnings of 1.882 billion pounds for the three months to end-December, both slightly ahead of analysts' expectation.

BT kept its outlook for core earnings for the year to end-March at 7.3-7.5 billion pounds, but it raised the lower limit of its free cash flow range to 1.3 billion pounds, giving a new range of 1.3-1.5 billion pounds. ($1 = 0.7359 pounds)

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