Deutsche Telekom raises guidance as U.S. unit outperforms

BERLIN: Deutsche Telekom raised its earnings guidance after reporting forecast-beating third-quarter results on Thursday, lifted by outperformance at its recently merged U.S. unit T-Mobile.

The transatlantic telecoms group upped guidance for core profit to 35 billion euros ($41.2 billion) this year, saying T-Mobile was ahead of plan on network integration while it added the most German broadband customers since 2017.

“We are raising our guidance thanks to strong business on both sides of the Atlantic,” Chief Executive Tim Hoettges said. “We are able to do this despite feeling the effects of the (coronavirus) pandemic in some areas.”