Revenue forecast to miss BT's goal
Sunday 28 October 2012
Investors are bracing for telecoms giant BT to cut its revenue forecasts at its half-year results on Thursday.
Barclays reckons "a worsening macro environment will negatively impact the 50 per cent of BT that is corporate" after Global Services, its international arm, disappointed in the first quarter.
The consensus forecast is for BT's revenues to fall 4.5 per cent to £4.57bn. Analysts at Barclays also warn BT's move into pay-TV sport — it has spent close to £900m on Premier League football and rugby rights — is going to hit cash flow targets. Investors will be anxious to know how YouView, the new internet-enabled TV set-top boxes that allow viewers to access on-demand content, have been selling since being first unveiled in July.
BT's pay-TV strategy has had mixed results, gaining only 700,000 subscribers to BT Vision in six years, but Morgan Stanley is hopeful it can win one million YouView customers by March 2014. "BT faces some bumps near term but these do not affect the medium-term picture," said analysts.
- 1 Kermit the Frog has a new girlfriend named Denise
- 2 The excuses your boss is most likely to believe when you call in sick
- 3 Moscow voted the world's unfriendliest city
- 4 I'm pansexual – here are the five biggest misconceptions about my sexuality
- 5 More than 11,000 Icelanders offer to house Syrian refugees to help European crisis
The one chart that shows how George Osborne is almost certainly going to be our next Prime Minister
The excuses your boss is most likely to believe when you call in sick
Three-year-old ultra-Orthodox Jewish children told 'the non-Jews' are 'evil' in worksheet produced by London school
Bono's group has made more money from Facebook investment than from all his music
Wikipedia rocked by 'rogue editors' blackmail scam targeting small businesses and celebrities
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
Jeremy Corbyn calls Osama bin Laden's killing a 'tragedy' - but was it taken out of context?
Tony Blair attacks Jeremy Corbyn's 'Alice In Wonderland' politics
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
If you're not already angry about the refugee crisis, here's a history lesson to remind you why you really should be
iJobs Money & Business
£14000 - £16000 per annum: Recruitment Genius: This company was established in...
£20000 - £25000 per annum + OTE 40k: SThree: SThree are a global FTSE 250 busi...
£20000 - £25000 per annum + competitive: SThree: SThree are a global FTSE 250 ...
£20000 - £25000 per annum: Recruitment Genius: We are a vibrant and establishe...