BT Group (LON:BT.A) Announces Earnings Results

Posted by on Nov 6th, 2026

BT Group (LON:BT.A – Get Free Report) issued its earnings results on Thursday. The communications services company reported GBX 9.70 earnings per share for the quarter, Digital Look Earnings reports. BT Group had a return on equity of 6.33% and a net margin of 4.11%. The business had revenue of GBX 875.30 billion during the quarter.

Here are the key takeaways from BT Group’s conference call:

  • BT reported 1% growth in first-half revenue and EBITDA and reiterated its guidance, including around £2 billion of normalized free cash flow in FY2027 and £3 billion by FY2030. First-half normalized free cash flow was £236 million, however, reflecting timing-related headwinds that management expects to ease.
  • Openreach connected its 10 millionth full-fibre customer and passed more than 24 million premises, with connections setting a record and broadband line losses 11% lower year over year. Openreach EBITDA rose 4%, supported by growth and lower costs.
  • Transformation delivered £312 million of annualized gross savings in the half and £1.7 billion cumulatively, alongside an 11% reduction in total labor resource. BT also migrated 1.1 million customers from the legacy PSTN network, with about 1 million remaining before the January 2027 deadline.
  • Performance was uneven across customer-facing businesses: Consumer EBITDA fell 1% and Business EBITDA fell 7%, with voice migration, legacy-product declines and brand investment weighing on results. BT expects Business to improve in the second half and said Consumer EBITDA should be broadly flat for the full year.
  • BT expects the TalkTalk acquisition to cost around £400 million in FY2027, excluding it from current-year guidance while regulatory review continues. Separately, the company agreed a pension funding plan that is expected to reduce the deficit to about £300 million after bond issuance, while BT also plans a Verizon joint venture for its international operations.

BT Group Price Performance

LON BT.A opened at GBX 218.08 on Friday. The company has a market cap of £21.49 billion, a PE ratio of 20.19, a P/E/G ratio of 0.38 and a beta of 0.69. The firm’s 50 day moving average price is GBX 204.43 and its 200-day moving average price is GBX 205.67. The company has a debt-to-equity ratio of 187.58, a quick ratio of 0.83 and a current ratio of 0.89. BT Group has a 52-week low of GBX 173 and a 52-week high of GBX 247.30.

Key Stories Impacting BT Group

Here are the key news stories impacting BT Group this week:

  • Positive Sentiment: BT reported a 12% rise in half-year pretax profit to £1.07 billion, with second-quarter results topping forecasts. It raised its interim dividend and maintained its outlook, while the pension deficit narrowed—factors that helped support investor confidence. BT Group reports half-year results
  • Positive Sentiment: Record fibre take-up is helping underpin earnings, and BT shares were reported at eight-year highs. Berenberg reaffirmed its “buy” rating and set a 300p price target, above the 219.30p opening price cited in the provided market data. BT shares and fibre take-up Berenberg rating
  • Neutral Sentiment: BT is cutting almost 8,000 jobs as part of a broad cost-saving programme, after shedding more than 11,000 roles over the past year. The cuts may help reduce expenses, but their eventual savings and any operational effects remain to be seen. BT job cuts
  • Neutral Sentiment: BT declined to comment on TalkTalk, leaving uncertainty about any potential developments involving the telecoms company. BT and TalkTalk
  • Negative Sentiment: Openreach is expected to miss its target of reaching 25 million fibre premises by year-end, though BT expects to hit that milestone in March. The delay could weigh on near-term execution expectations. Openreach fibre rollout target

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Berenberg Bank restated a “buy” rating and set a GBX 300 price target on shares of BT Group in a research note on Thursday. Citigroup lowered their price objective on shares of BT Group from GBX 175 to GBX 165 and set a “sell” rating for the company in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of GBX 231.25.

Check Out Our Latest Research Report on BT.A

BT Group Company Profile

(Get Free Report)

BT Group is the UK’s leading provider of fixed and mobile telecommunications and related secure digital products, solutions and services.

BT Group consists of four customer-facing units: Consumer serves individuals and families in the UK; Business covers companies and public services in the UK; International serves multinational organisations headquartered outside the UK and overseas public sector customers; Openreach is an independently governed, wholly owned subsidiary wholesaling fixed access infrastructure services to its customers – over 700 communications providers across the UK.
British Telecommunications Limited is a wholly owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group.

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Earnings History for BT Group (LON:BT.A)

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