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HomeMarketDeutsche Telekom raises guidance after bumper Q3 By Reuters

Deutsche Telekom raises guidance after bumper Q3 By Reuters

© Reuters. FILE PHOTO: A woman carrying her phone passes by the logo of German telecommunication company “Deutsche Telekom” at the ITS World Congress 2021, a fair for intelligent transport systems, in Hamburg, Germany, October 13, 2021. REUTERS/Fabian Bimmer
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BERLIN (Reuters) -Deutsche Telekom nudged up its full-year guidance on Thursday as the U.S. dollar’s appreciation helped buoy third-quarter profit and its T-Mobile US (NASDAQ:) business added customers.

The telecoms operator reported a rise in third quarter adjusted net profit of 80% to 2.4 billion euros ($2.41 billion) and said it planned to increase its dividend to 0.70 euros per share from 0.64 euros in 2021.

“We are once again proving to be an anchor of stability in difficult times,” said Tim Hoettges, chairman of Deutsche Telekom (OTC:)’s management board.

“Our businesses continue to grow. That puts us in a position to raise not only our guidance – for the third time this year – but also our dividend,” he added.

In organic terms, Telekom expected full-year adjusted EBITDA AL to come in at more than 37.0 billion euros, up from previous guidance of around 37.0 billion.

T-Mobile US recorded 1.6 million new postpaid customers in the third quarter, including 854,000 phone customers.

T-Mobile US now expects to unlock synergies from its merger with Sprint of $5.7-5.8 billion this year, up from previous guidance of $5.4-5.6 billion, Telekom said.

($1 = 0.9972 euros)

Story Credit: investing.com

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