Deutsche Telekom reported quarterly earnings and revenue higher than expected, mainly thanks to its US subsidiary T-Mobile, along with growth in its European operations, and upgraded its outlook for the year.
Adjusted EBITDA AL stood at 9.87 billion euros, compared to estimates for 9.55 billion euros.
Revenue for the first quarter rose 6.2% to 28 billion euros, marginally higher than estimated at 27.87 billion euros.
It was a strong start to the new year, the financial director stressed. We continue to grow on an organic basis and therefore we are able to upgrade our estimates for 2022, he added.
The company now expects to record adjusted EBITDA ALs higher than 36.6 billion euros in 2022, compared to a previous estimate of about 36.5 billion euros.
T-Mobile, which accounts for three-fifths of the group’s revenue, has increased its subscribers following its merger with Sprint and as it launches 5G.
Deutsche Telekom announced 54 million mobile customers in Germany and 45.6 million in the rest of Europe.
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