Deutsche Telekom 1Q Net Profit, Revenue Increased
May 14 2020 - 12:43AM
Dow Jones News
By Mauro Orru
Deutsche Telekom AG said Thursday that net profit and revenue
for the first quarter of 2020 increased year-on-year thanks to
growth in the U.S. and Germany.
The German telecommunications company said quarterly net profit
rose to 916 million euros ($993 million) from EUR900 million for
the first quarter of 2019.
Adjusted earnings before interest, taxes, depreciation and
amortization after leases--a metric that measures operating
earnings performance accounting for the adoption of IFRS 16--jumped
to EUR6.54 billion from EUR5.94 billion.
Revenue for the period climbed to EUR19.94 billion from EUR19.49
billion.
The company said it expects the coronavirus pandemic to have
limited impact on revenue and confirmed its 2020 guidance,
expecting revenue to increase in the year, with adjusted Ebitdaal
forecast at about EUR25.5 billion.
"Deutsche Telekom is an anchor of stability in a global crisis,"
said Chief Executive Tim Hoettges.
The results come just over a month after Deutsche Telekom's
T-Mobile US Inc. closed its takeover of Sprint Corp. in the U.S.
after a nearly two-year battle with federal and state
authorities.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
May 14, 2020 01:28 ET (05:28 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Deutsche Telekom (TG:DTE)
Historical Stock Chart
From Apr 2024 to May 2024
Deutsche Telekom (TG:DTE)
Historical Stock Chart
From May 2023 to May 2024