BT Sales Miss Analyst Estimates as Customers Reduce Spending
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BT Group Plc, the U.K.’s largest fixed-line phone company, reported first-quarter sales that missed analyst estimates as some customers reduced spending. The stock declined the most in more than 11 months.
Sales in the three months ended June 30 dropped 5.9 percent to 4.48 billion pounds ($6.9 billion), the London-based company said in a statement today. The average estimate from analysts in a Bloomberg survey was for 4.58 billion pounds.