Deutsche Telekom lifts outlook

BONN: German communications giant Deutsche Telekom again lifted its 2018 outlook after a strong third quarter powered by ongoing growth in US unit T-mobile. The Bonn-based telecommunications group said net profit from July to September more than doubled to 1.1 billion euros ($1.3 billion) compared with a year earlier, when it suffered a large impairment loss at its IT subsidiary.

Group revenues grew 4.7 per cent to 19.1 billion euros as Deutsche Telekom won new customers for its mobile, broadband, TV and landline services in Europe and the United States.

“Things are looking up in all areas of the group,” Chief Executive Tim Hoettges said in a statement. “That enables us to set the bar a fraction higher. It sends a very optimistic signal.” — AFP