Germany's Deutsche Telekom lifts business outlook for 2019

Source: Xinhua| 2019-11-07 23:17:28|Editor: yan
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BERLIN, Nov. 7 (Xinhua) -- Deutsche Telekom has lifted its profit outlook for 2019 and is expecting operational profits (adjusted EBITDA) to reach 24.1 billion euros (26.7 billion U.S. dollars), 200 million euros more than previously anticipated, Germany's largest telecom company announced on Thursday.

Deutsche Telekom attributed improving outlook for 2019 to "improved results from all operating segments" in the first nine months as well as the raised "average value" of the T-Mobile U.S., Deutsche Telekom's U.S. subsidiary.

"Deutsche Telekom is really powering ahead," said Deutsche Telekom CEO Tim Hoettges.

For the first time in the company's history, Deutsche Telekom had achieved quarterly revenues of more than 20 billion euros. In addition, operational profits increased by 5.4 percent to a total of 6.5 billion euros in the third quarter (Q3).

Revenues of T-Mobile U.S. increased 3.6 percent in Q3. T-Mobile U.S. contributed more than half of revenues of Deutsche Telekom during the period.

T-Mobile U.S. is planning to merge with its competitor Sprint to form the third largest telecoms company on the U.S. market.