BERLIN (Reuters) -Deutsche Telekom slightly lifted its 2023 operating profit target a second time on Thursday, boosted by its U.S. business T-Mobile US, which raised its outlook for customer growth two weeks ago.
The U.S. wireless carrier has been benefiting from cost-conscious customers flocking to its cheaper plans and superior 5G services in a highly competitive market, helping it top Wall Street expectations for quarterly wireless subscriber additions.
Bonn-based parent Telekom said it now expects adjusted earnings before interest, taxes, depreciation and amortization after leases (EBITDA AL) to reach around 41 billion euros ($45.03 billion) this year, compared with previous guidance for about 40.9 billion.
The group reported second-quarter EBITDA AL that rose 1.5% year-on-year to 10.04 billion euros, a tad above analyst consensus for 10.02 billion.
Revenues slipped by 2.4% to 27.2 billion euros, slightly below consensus for 27.3 billion, as it withdrew from the terminal equipment business in the U.S. following its takeover of rival Sprint in 2020.
($1 = 0.9106 euros)
(Reporting by Maria Sheahan, Editing by Friederike Heine)
Credit: The Star : Tech Feed
