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The company's stock was down 5.94 per cent at 10:04 GMT - taking it to 123.6p - after it announced revenue declined four per cent to £5.2 billion in the three months to December 31st.
This was ahead of analysts' forecasts, with a poll conducted by Starmine for Reuters revealing that a figure of £5.13 billion had been predicted.
Performance was boosted by a 13 per cent drop in underlying costs during the quarter, helping the company to achieve a saving of £1.6 billion in the nine months to the end of last year.
"There is still a lot more to be done, but our commitment to improved customer service and cost transformation is starting to deliver results," remarked chief executive Ian Livingstone, who added that BT is "making progress" in terms of performance.
Posted by Greg Secker
