BT Q2 2014/15 results: Competition bites, but BT is resilient
4 November 2014
BT faced a more intense battle in the broadband market in the September quarter, and lost some net adds share, but retained its #1 spot and is still growing well
Revenue growth fell at both the group and consumer level, but this was largely due to the BT Sport direct revenue benefit annualising out, with growth excluding this actually improving a touch
The flip side of this is that the negative cost impact is also annualising out, and cost reduction in the quarter looks weak in this context, but this is likely due more to discretionary spend on new products than a lack of costs to cut