European telco Q2 roundup: BT, France Telecom, Telefonica beat expectations

It might be premature to break out the celebration glasses, but three of Europe's largest telcos (BT, France Telecom and Telefonica) reported that their second-quarter results rose above analyst expectations. A Bloomberg article suggested ongoing cost cutting measures helped these three telcos to weather the global economic storm during the quarter.    

First up is BT. Although BT's net profit declined 44 percent during its fiscal first quarter, the U.K.-based incumbent operator reported that net revenue was $353 million. However, BT's group earnings were hurt by ongoing issues with its Global Services division. To keep the company on track, BT's CEO Ian Livingston said that it plans to reduce capex spending and continue making progress in rolling out high-speed broadband services over the next year.

Over at France Telecom, the service provider saw its shares rise 3.3 percent after its second-quarter earnings came in slightly ahead of financial analyst forecasts. While the French incumbent carrier reported that net profit declined 4.3 percent to $12.5 million, that beat analyst expectations of $12.3 million. Finally, Telefonica, while reporting that its revenue dropped 6.1 percent to $2.71 billion, the service provider's revenues were slightly ahead of analyst expectations of $2.6 billion.

For more
- Here's an article from Bloomberg

Related articles
BT freezes wages across the board
EU telecom reform progresses; France Telecom confirms outlook
Spain to place tax on service providers, TV stations

Suggested Articles

Despite some challenges, organizations of all sizes are using containers in more of their initiatives, including AI and machine learning.

On Monday the FCC announced that it had it authorized more than $563 million in funding to expand rural broadband services in 24 states.

Driven by 200 Gbps wavelength shipments, coherent DWDM revenue will reach $16 billion by 2023, according to a report.