BT Group (LON: BT.A) shares extended their winning streak on Friday, soaring to a multi-year high of 223.60p following a robust Q1 FY2026 earnings report and a bold leadership update that has rekindled investor confidence. The stock was last seen trading at 221.60p, up more than 60% year-to-date, outperforming both the FTSE 100 and the broader telecoms sector.
Strong Q1 Results Support Bullish Momentum
BT’s latest earnings print showed the company is finally turning the corner. First-quarter EBITDA came in at £2.05 billion, broadly in line with analyst expectations. However, it was the performance of the Openreach division that stole the show. Openreach posted £1.56 billion in revenue, up 15%, while subscriber losses were far milder than feared at just 169,000, well below the projected 356,700.
Investors also cheered the firm’s clarity on cost-cutting and margin expansion. BT reiterated its goal of delivering £3 billion in cost savings and confirmed the rollout of its £15 billion fiber upgrade remains on schedule.
Patricia Cobian Named CFO Amid Leadership Revamp
A major driver of Friday’s rally was the announcement of Patricia Cobian as the new Chief Financial Officer. Cobian, previously CFO of Virgin Media O2 experienced in integration and cost control, areas critical to BT’s transformation plan.
Her appointment is seen as a perfect complement to CEO Allison Kirkby’s turnaround vision. Kirkby, who took the reins in early 2024, has focused on domestic operations, aggressive restructuring, and consistent dividend growth. Since her arrival, BT share price has rallied nearly 60%, and Friday’s price action suggests the market continues to bet on this new management era.
BT Share Price Levels to Watch
- Current price: 221.60p
- Immediate resistance: 224.00p
- Next upside target: 228.40p
- Support if reversal begins: 215.00p
- Major downside invalidation: 211.00p
Outlook: Momentum Intact, Leadership Credibility Driving Re-Rating
BT’s strong earnings, upgraded leadership team, and focused cost discipline are creating a credible bull case. The company has managed to reverse years of stagnant performance with a clear roadmap, and now the market is buying into that story.
With Openreach growth holding up, fiber deployment progressing, and a seasoned CFO now on board, BT Group is positioning itself as a serious contender for long-term value investors and income seekers alike.
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