Deutsche Telekom Earnings Increase on U.S. Customer Gains
- Largest German carrier relying on T-Mobile US for growth boost
- Rivalry with Vodafone, Telefonica weighing on German revenue
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Deutsche Telekom AG reported a 13 percent increase in first-quarter earnings after its U.S. mobile-phone unit won subscribers with aggressive promotions, offsetting waning revenue from the German wireless business.
Earnings climbed to 5.16 billion euros ($5.93 billion) stripping out interest, taxes, depreciation, amortization and other items, the company said in a statement Wednesday. Analysts had predicted 5.1 billion euros. Sales rose 4.7 percent to 17.6 billion euros, beating analysts’ projection of 17.5 billion euros.