Deutsche Telekom: Revenue increased in the quarter, upgraded estimates for the year

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Deutsche Telekom announced higher revenue for the third quarter and upgraded its full-year estimates for the third time this year, mainly thanks to the contribution of T-Mobile US as well as its operations outside the US.

The German telecommunications group announced that revenues increased to 26.88 billion euros from 26.39 billion euros a year ago.

Adjusted EBITDA fell slightly to 9.66 billion euros from 9.69 billion euros.

Net profit rose to 889 million euros from 817 million euros.

Analysts expected revenues of 27.15 billion Euros, adjusted EBITDA after leases of 9.35 billion Euros and net profits of almost 1.11 billion Euros.

“Our business is performing better than expected,” said CEO Tim Hoettges.

Now, the company expects adjusted EBITDA after leases of 38 billion Euros for the year, higher than previous estimates for at least 37.2 billion Euros.

It also expects cash flows of about 8.5 billion euros, instead of the previous 8 billion euros.

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Source From: Capital

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