BT reported first quarter results today, revealing a 35 percent drop in profits, dragged down by its wholesale unit and increased expenses related to job cuts. In the three months ending June 30, net income fell to £397 million from £607 million pounds compared to the same period a year ago. Earnings before interest, taxes, depreciation, amortization and costs to cut jobs came in at 1.43 billion pounds, just shy of analysts forecasts £1.45 billion.
Revenue was up three percent to £5.18 billion from £5.03 billion. Revenue at BT
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