BT Revenue Declines After Losing Broadband, Mobile Customers
- Profit rose about 1% on cost cuts, higher broadband bills
- Chief Executive Kirkby is working to streamline the company
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BT Group Plc said it lost broadband and mobile customers last quarter as well as contracts from business customers, pushing sales lower as new Chief Executive Officer Allison Kirkby works to streamline the business.
Revenue fell 2% from a year earlier to £5.05 billion ($6.5 billion) in the quarter ending in June, the company said in a statement Thursday. Analysts had predicted sales of £5.1 billion, according to the average of estimates compiled by Bloomberg.