BT issues upbeat report, but warns of more cuts

BT performed better than expected in its second quarter, but the U.K. telecom giant still revised its cost-savings target upward by about one-third, to more than $2 billion by March 2010, the company said today. CEO Ian Livingston reported progress in the company's financial picture, but said "there remains a lot more to do." BT also said it added 18,000 customers to its BT Vision IPTV service, bringing the total to 436,000, and said video-on-demand views grew 14%.

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