BT Group PLC

BT.A: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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BT Earnings: Openreach Line Losses Ease as Fiber Adoption Accelerates; Shares Fully Valued

Javier Correonero, Andrea Burigana

Nov 5, 2026

BT delivered a strong second quarter, with adjusted revenue of GBP 4.43 billion and EBITDA of GBP 2.08 billion, ahead of consensus by 2.6% and 3.1%, respectively. Cost discipline remained the main driver supporting profitability, while Openreach’s broadband line-loss trajectory improved further.

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BT Group PLC

BT Earnings: Openreach Line Losses Ease as Fiber Adoption Accelerates; Shares Fully Valued

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