U.K.'s BT Signs up Fewer Pay TV Subscribers in Latest Quarter
The British telecom giant, which competes with the likes of BSkyB, reported higher pre-tax earnings.
LONDON - U.K. telecom giant BT signed up fewer subscribers for its pay TV service BT Vision in its fiscal second quarter that ended in September than in the year-ago period.
The company, which competes with the likes of BSkyB, said that it added 21,000 TV customers, compared with 41,000 last year. That brought its total BT Vision subscriber base to more than 750,000 as of Sept. 30.
“We have delivered another solid quarter of growth in profit before tax despite the economic conditions," said BT CEO Ian Livingston. “Over the summer, we helped to deliver the most connected Olympic and Paralympic Games ever, and I am proud of the part that our people played in its success."
BT's retail broadband subscriber growth slowed to 81,000, compared with 166,000 in the same period of 2011.
BT reported that its quarterly pre-tax profit rose 7 percent to $983 million (£608 million) amid lower costs. Revenue of $7.66 billion (£4.74 billion) was down 9 percent though.