Deutsche Telekom Raises 2020 Guidance; 2Q Revenue Boosted by Sprint
13 Agosto 2020 - 07:52AM
Dow Jones News
By Ian Walker
Deutsche Telekom AG on Thursday raised its guidance for the year
as it reported a fall in second-quarter net income due to higher
costs, and despite revenue rising thanks to the inclusion of
Sprint.
The German telecommunications company said it now expects to
report adjusted earnings before earnings before interest, taxes,
depreciation and amortization after leases of about 34 billion
euros ($40.1 billion) compared with previous guidance of EUR25.5
billion. The increase is to reflect the merger of T-Mobile and
Sprint, which was concluded April 1.
Quarterly net profit fell to EUR754 million from EUR944 million
for the second quarter of 2019.
Adjusted Ebitda after leases--a metric that measures operating
earnings performance accounting for the adoption of IFRS 16--rose
to EUR9.83 billion from EUR6.28 billion and compared with forecasts
of EUR8.92 billion, taken from the company's website and based on
15 analysts' estimates.
Revenue for the period was EUR27.04 billion compared with
EUR19.66 billion for the second quarter of 2019.
The company said the coronavirus pandemic continued to have a
limited impact on the business during the quarter, and was mainly
felt in the corporate customer business and mobile-roaming revenues
due to travel restrictions.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
August 13, 2020 01:37 ET (05:37 GMT)
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