LONDON (AP) — U.K. telecommunications company BT said Friday that its net profit fell 1.6 percent to 484 million pounds ($767.7 million) in the third quarter amid declining revenue from traditional voice calls.
Revenue fell to 4.36 billion pounds in the three months ending Dec. 31, 2012, compared to 4.77 billion pounds in the same period in 2011, the company said. BT, the successor to Britain's state phone monopoly, said that it had been affected by uncertain conditions in Europe, regulatory changes, and even repair activities linked to England's wettest year on record.
But BT also said it had added several hundred thousand extra customers, and had boosted the availability of its fiber optic broadband to more than 1 million additional premises. One analyst said that the once-struggling company's results had beat expectations.
"BT has achieved much in turning around what had been a flailing former monopoly," said Richard Hunter, the head of equities at Hargreaves Lansdown. Shares in BT jumped roughly 4.5 percent 2.60 pounds ($4.12) in early morning trading.