Deutsche Telekom Raises Guidance Again After Rise in Net Profit
November 09 2023 - 1:33AM
Dow Jones News
By Adria Calatayud
Deutsche Telekom raised its earnings outlook for 2023 for the
third time this year after it reported a higher quarterly net
profit thanks to lower integration costs from the merger of
T-Mobile US and Sprint.
The German telecommunications company said Thursday it now
expects adjusted earnings before interest, taxes, depreciation and
amortization after leases for the full year to be about 41.1
billion euros ($44.02 billion) from around EUR41.00 billion
previously. The company said the change reflects a strong
third-quarter performance.
It now expects free cash flow after leases for the year to be
more than EUR16.1 billion, up by EUR100 million from its previous
guidance.
For the third quarter, Deutsche Telekom made a net profit of
EUR1.92 billion compared with EUR1.58 billion for the same period
last year, a change it attributed to planned reduction in
integration costs in the U.S.
Revenue for the quarter fell to EUR27.56 billion from EUR28.98
billion. However, revenue rose 0.7% on an organic basis and
excluding foreign-exchange fluctuations, driven by a 4.1% increase
in service revenue.
Adjusted Ebitda after leases came in at EUR10.49 billion, little
changed on year.
Analysts expected Deutsche Telekom to report adjusted Ebitda
after leases of EUR10.37 billion and revenue of EUR27.56 billion,
according to consensus estimates provided by the company.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
November 09, 2023 01:18 ET (06:18 GMT)
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