BT Group plc (ADR) (NYSE: BT) Climbs 5.50% after Results
November 12, 2009 10:18 AM
BT Group plc (ADR) (NYSE: BT) today raised its fiscal 2010 guidance for revenues to fall by 3%-4% against prior range of 4%-5%, while analysts were expecting BT Group’s revenue to be around GBP 20.67 billion for financial year 2010.
BT Group also announced its second quarter net profit of 428 million pounds, an increase of 13.2% over last year because of tax gain. EBITDA for the second quarter was 1.44 billion pounds versus consensus estimates of 1.37 billion pound. BT Group is also taking cost reduction measures to improve its operating earnings.
As a result, shares of BT Group plc (ADR) (NYSE: BT) surged 5.59% to $24.75. The stock has a 52-week range of $ 9.71 - $23.67. Till now during the current calendar year the stock has surged over 17%.
