BT has confirmed a drop in its profits, but has hailed growth in its BT Sport offering.
The company is going head-to-head with broadcaster Sky and this year purchased the rights to Premier League football matches.
But this was unable to stop the firm from announcing six-month pre-tax profits of £948 million, which is a 13 per cent drop on last year's results.
New chief executive Gavin Patterson said BT Sport – which shows Premier League football early on a Saturday afternoon and has other top level sports including rugby union – has got off to a "confident" start since it was launched in August.
Broadcasters such as Clare Balding and Jake Humphreys are hosting programmes on the BT Sport channels, while former footballers such as Michael Owen also take part in its coverage.
The share price of BT has fallen slightly in early trading this morning, with stocks in the firm down 0.41 per cent on the start of the day at 08:35 GMT.
Find up to date information on the FTSE 100 and spread betting strategies at City Index
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.