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Deutsche Telekom Posts 40% Drop in Second-Quarter Profit
Published:
Thursday, 9 Aug 2007 | 2:35 AM ET
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By: AP
Deutsche Telekom said Thursday that its second-quarter net profit fell by 40% as it continued to lose customers from its fixed-line unit.
The Bonn-based firm, Europe's biggest telecommunications company in terms of sales, said it earned 608 million euros ($839 million) in the April-June period, compared with 1.02 billion euros a year earlier.
The figure was still better than the 563 million euros ($777 million) that analysts polled by Dow Jones Newswires had forecast.
Sales rose 2.9% to 15.6 billion euros ($21.5 billion) from 15.13 billion euros a year earlier, lifted by continued growth at the company's wireless unit, T-Mobile. Analysts had expected sales of 15.5 billion euros ($21.4 billion).
Copyright 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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