Deutsche Telekom Again Raises Earnings Guidance for 2021

   By Kim Richters 
 

Deutsche Telekom AG on Thursday raised part of its outlook for the year, and said revenue and adjusted earnings for the second quarter fell.

The German telecommunications company said quarterly adjusted earnings before interest, taxes, depreciation and amortization after leases dropped to 9.42 billion euros ($11.06 billion) from EUR9.83 billion a year earlier. Analysts had forecast EUR9.13 billion, according to consensus estimates compiled by the company.

Revenue fell 1.7% to EUR26.59 billion.

Net profit jumped to EUR1.88 billion from EUR754 million, it said. The company said the second quarter of 2020 included special charges related to T-Mobile US.

Deutsche Telekom raised its earnings guidance for 2021 again, after doing so in May. It expects adjusted Ebitda after leases of more than EUR37.2 billion, EUR200 million more than the previous target. It backed its outlook that free cash flow after leases should exceed EUR8 billion this year.

Write to Kim Richters at [e-mail]

(END) Dow Jones Newswires

August 12, 2021 01:33 ET (05:33 GMT)

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