Deutsche Telekom Profit Tops Estimates on Europe Recovery
This article is for subscribers only.
Deutsche Telekom AG, Europe’s second-largest telephone company, reported earnings that beat analysts’ estimates as a decline in European revenue slowed and the T-Mobile USA unit boosted profitability.
Earnings before interest, taxes, depreciation and amortization excluding some items slipped 0.1 percent to 4.48 billion euros ($5.8 billion) in the first quarter, the Bonn-based company said today. The profit compares with the 4.4 billion-euro average estimate of 21 analysts compiled by Bloomberg. Revenue dropped by a smaller-than-projected 1.1 percent to 14.4 billion euros.