Deutsche Telekom Nudges Up Guidance After Profit Rise
August 10 2023 - 1:56AM
Dow Jones News
By Adria Calatayud
Deutsche Telekom nudged up its adjusted earnings guidance for
2023, citing high expectations for its business in Germany and
Europe, and reported a rise in net profit for the second
quarter.
The German telecommunications company said Thursday that it now
expects adjusted earnings before interest, taxes, depreciation and
amortization after leases--a closely watched profitability
metric--for the full year to be about 41 billion euros ($44.99
billion). It had previously expected an adjusted Ebitda after
leases of more than EUR40.9 billion.
For the second quarter, adjusted Ebitda after leases grew 1.5%
to EUR10.04 billion, with rises across its key markets.
Net profit for the quarter was EUR1.54 billion euros compared
with EUR1.46 billion in the same period last year.
Revenue was down 2.4% at EUR27.22 billion, due to the planned
withdrawal from the terminal-equipment business in the U.S. On an
organic basis, revenue from telecom services grew 3.2%, the company
said.
Analysts had expected Deutsche Telekom to report quarterly
adjusted Ebitda after leases of EUR10.02 billion on revenue of
EUR27.33 billion, according to consensus estimates provided by the
company.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
August 10, 2023 01:41 ET (05:41 GMT)
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