BT Q1 FY22–23: ‘Green shoots’ emerging from B2B rubble but investors take fright


Source: BT

Positive headline numbers do little to mask atrophy at Enterprise and Global. City investors badly spooked before and after, despite arguably positive tone and maintained forward guidance.

  • Consumer and Openreach sitting pretty, as Jansen claims early vindication on Allera’s value‑for‑money stratagem, with churn contained despite price hikes.
  • FTTP connections (rather than homes passed) wielded as the winning differentiator.
  • Altnets forewarned that the Openreach dreadnought will win overbuild battles.
  • Enterprise’s Shuter gets backslapped for (marginal) progress in SoHo and SME segments, as corporate and public sector drought continues.
  • No attention not good attention for Global.

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