BT has reported a 6% increase in annual revenues, with a strong jump in broadband incomes offsetting a decline in its fixed-line phone business.
The telecoms giant achieved revenues of £20bn ($38bn) in the year to 31 March.
Revenues from BT's so-called "New Wave" operations - broadband and other IT services - jumped 38% to £6.3bn, and now make up 32% of its business.
The firm's fixed-line operations saw revenues decline 5%. Overall profits at BT increased 5% to £2.2bn.
"BT has changed very significantly from four years ago, and the transformation is accelerating"
BT's figures were in line with market expectations.
'Transformation'
"This quarter's results are a terrific set of numbers," said BT chief executive Ben Verwaayen.
"They show BT firing on all cylinders, with underlying earnings, revenues and earnings per share all growing.
"BT has changed very significantly from four years ago, and the transformation is accelerating."
BT's fixed-line operations have faced increasing competition in recent year's, most notably from the Carphone Warehouse's Talk Talk service.
Shares in BT were up 3.7% in early trading in London.
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