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May 18, 2007

Britain's biggest phone company, BT Group, just announced that its fourth-quarter earnings grew about 16 percent, due in part to the increase in broadband Internet utilization.

However, the company did warn that its wireline phone revenues continued to slide.

Revenues for the quarter that ended March 31 were $10.5 billion, while the fiscal year-end saw revenues reach $39.9 billion.

In its latest earnings report, the phone carrier highlighted the importance of so-called "New Wave" services.

BT was referring to networked IT services for corporate customers, broadband Internet access and its mobile service offerings, which accounted for about 40 percent of fourth-quarter revenues.

Overall, BT Group said that it now has approximately 1.4 million VoIP subscribers and that it added 245,000 broadband customers during the last quarter.

BT expects revenues to increase by 2 to 5 percent for 2007.

The British company also announced a $4.94 billion share buyback program to return some profitability to investors.

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Source: Wireless Week