BT holds full-year outlook as H1 revenue edges up to £8.8 billion

BT grew first-half revenue 1% year over year to £8.8 billion (US$11.8 billion), confirmed its full-year outlook, and framed its £400 million TalkTalk purchase as a patriotic act that shields millions of UK customers.

Adjusted EBITDA rose 1% to £4.1 billion ($5.5 billion), with lower staff costs more than offsetting a decline in voice revenue. Higher handset revenues in the Consumer division helped the top line. BT kept its FY guidance intact, though the outlook for FY27 excludes any impact from the planned acquisition of failed fixed-line provider TalkTalk.

CEO Allison Kirkby tied the two transactions together directly: "Our proposed international joint venture with Verizon is progressing at pace, and we've also stepped up for the country with the acquisition of TalkTalk, protecting millions of customers while creating value for all our stakeholders." BT's rivals may read that "stepped up for the country" line with some irritation, given they too compete for those same customers.

What else happened across EMEA?

Telia and Ericsson will build an "advanced 5G" network for the Swedish armed forces, part of a larger NATO-led program. Telia said the new capabilities will complement existing military communications with secure, resilient connectivity. The project also opens the door to intelligence sharing, drone detection and better situational awareness for personnel. It builds on the NorthStar innovation program, which has already tested 5G's suitability for military uses.

Ethio Telecom and ZTE completed an AI-RAN deployment that they claim has boosted 4G capacity by 11% and raised user throughput by 40%. The work combined FDD massive MIMO with ZTE's AIREngine intelligent computing engine to introduce AI-driven beam scheduling, allocating radio resources more efficiently as traffic shifts. Those figures come from the companies themselves, not independent measurement.

Vodafone UK launched Pro 4 broadband, delivering speeds of up to 8 Gbit/s through a Wi-Fi 7 router over CityFibre's XGS-PON fiber network. A "Smart Modes" feature prioritizes the household devices that matter most — at least to whoever pays the bill.

Is 6G worth $1.24 trillion?

The GSMA thinks so. Its new report, Vision 2040: The Economic Benefits of 6G, estimates the technology could add $1.24 trillion to the global economy by 2040. But the lobby group warns nearly half that opportunity could vanish if regulators fail to release sufficient spectrum.

The report breaks down where the money would land:

• Manufacturing: 20% of the additional economic contribution in 2040
• Financial services: 19%
• Construction: 13%
• Information and communications technology: 12%

Towerco strength and chip ambitions

Helios Towers, focused on Africa and the Middle East, upgraded its full-year guidance after a strong third quarter. Adjusted EBITDA rose 13% year over year to $392.2 million, on revenue that also climbed 13%, to $718.8 million. CEO Tom Greenwood said: "The opportunity across Africa and the Middle East is very compelling. Rapid population growth, increasing mobile penetration and accelerating data consumption continue to drive ever more demand for our infrastructure."

The European Commission, meanwhile, launched a European Chip Design Platform meant to unlock €525 million ($589 million) in investment and seed a new generation of European semiconductor design companies. European firms currently hold less than 1% of global revenues in that segment — a stark obstacle to the "sovereign" data processing capability the EU is chasing.

Closer to home for UK altnets, LightSpeed Networks turned on a new 25km Midlands link between Tamworth and Nuneaton, connecting several business parks with services running at up to 10 Gbit/s.

Sky-ITV deal faces regulatory scrutiny

The UK government has referred Sky's proposed takeover of ITV's broadcast business to the Competition and Markets Authority. Culture Secretary Lisa Nandy issued a public interest intervention notice after a consultation, citing the need to protect free expression of opinion in news media, a plurality of views, and the avoidance of over-centralized control of media outlets.

With TalkTalk's integration still ahead and the Verizon joint venture moving "at pace," BT's second half will show whether steady 1% growth can carry the weight of a strategy that now leans heavily on consolidation at home and abroad.