Deutsche Telekom profits boosted by cost-cutting

Go down

Deutsche Telekom profits boosted by cost-cutting

Post  Mr007 on Fri Nov 11, 2011 2:11 am

Deutsche Telekom Deutsche Telekom is Europe's largest telecoms company
Continue reading the main story
Related Stories

* Restructuring hits Telekom profit
* US tries to block $39bn AT&T deal

Deutsche Telekom, Europe's largest telecommunications company, has reported a rise in profits helped by cost-cutting measures in Germany.

The company's net profits rose 14% to 1.1bn euros ($1.5bn; £940m) for the three months to the end of September.

Deutsche said that Greek telecoms firm OTE, in which it owns a 40% stake, saw net profit fall 17%.

This was offset by a strong growth in revenue from mobile internet surfing by smartphone users in Germany and the US.

Smartphones accounted for 61% of all phones sold in Germany this year and smartphone sales grew by 40% in the US.

"We have once again demonstrated that we can stand our ground in a difficult environment," said Rene Obermann, Deutsche Telekom's chief executive.

Analysts were encouraged by the results.

"A solid set of figures. Greece saw no write-downs which might surprise, as well," said analyst Adrian Pehl at Equinet Bank.

fresno church
buying a home


Number of posts : 117
Registration date : 2010-12-24

View user profile

Back to top Go down

Back to top

- Similar topics

Permissions in this forum:
You cannot reply to topics in this forum