Deutsche Telekom core profit beats estimates; full-year outlook raised

STOCKHOLM: Deutsche Telekom reported core profit above market estimates on Friday and raised its full-year outlook for the third time, boosted by its U.S. unit T-Mobile, along with growth in European business.

Adjusted earnings before interest, tax, depreciation and amortisation after leases (EBITDA AL) stood at 9.66 billion euros ($11.05 billion), beating consensus estimates of 9.35 billion euros in a poll of analysts published by the company.

The company raised its full-year adjusted EBITDA AL to around 38 billion euros, up from the previous outlook of at least 37.2 billion euros.

“Our businesses are performing even better than expected,” Chief Executive Officer Tim Hottges said in a statement. “Following strong figures in the first nine months, we are setting the bar for 2021 a little higher.