BT has released its financial results for the quarter ending December 31, 2017.  The following are some of the highlights:

  • Reported revenue down 3% to £5,970 million and underlying revenue down 1.5%
  • Adjusted EBITDA decreased 2% to £1,826 million, reflecting investment in mobile devices and customer experience, along with higher business rates and pension costs, partly offset by cost savings
  • Net cash inflow from operating activities of £1,596 million up £81 million, and normalised free cash flow of £702 million up £96 million mainly due to working capital phasing
  • Full year outlook maintained