BT shares fall after challenging conditions hit revenue at FTSE 100 giant

BT's shares saw a downturn of up to 3.9% in early trading today after the telecoms giant revised its growth forecast for the year downwards.

The firm disclosed a marginal drop in revenue for the half-year ending on 30 September 2024, attributing it to what it describes as challenging conditions within its enterprise division and heightened competition in the consumer segment, as reported by City AM.

As a result of these challenges, BT has adjusted its growth expectations for the current fiscal year.

In a detailed account, BT announced that its adjusted revenue fell by three percent over the period to £10.1bn, primarily due to "challenging conditions in business, principally driven by non-UK trading in our global and portfolio channels."

The company also noted that its consumer operations were impacted by smaller inflation-related price increases, intensified market competition, and a decline in customer numbers.

Despite these setbacks, BT reported an adjusted EBITDA (earnings before interest, tax, depreciation, and amortisation) of £4.1bn, which is a one percent increase from the previous year, aided by reduced costs.

The reported pre-tax profit s