Deutsche Telekom Raises 2022 View After Posting Higher 2Q Revenue

By Cristina Roca

Deutsche Telekom AG on Thursday raised its guidance for the second time this year, citing good performance at both its T-Mobile US Inc. business and outside the U.S.

The German telecommunications company reported a net profit of 1.46 billion euros ($1.50 billion) compared with EUR1.88 billion during the same period a year earlier. The fall was mainly due to expenses for the integration of its newly acquired Sprint business in the U.S., it said.

Adjusted earnings before interest, tax, depreciation and amortization after leases, a closely watched metric, rose 5% to EUR9.89 billion.

Revenue rose 5.9% to EUR28.17 billion. It was up 12% in the U.S., while in Germany it moved 2.7% higher.

Deutsche Telekom said it now expects adjusted Ebitda after leases for the year to be around EUR37 billion. It had guided for more than EUR36.6 billion in May.

The company still expects free cash flow after leases of more than EUR10 billion for the year.

Write to Cristina Roca at [e-mail]

(END) Dow Jones Newswires

August 11, 2022 01:25 ET (05:25 GMT)

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