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Thursday, August 7, 2014

Deutsche Telekom Q2 core profit beats view on growth in U.S., (NYSE: TMUS)

Deutsche Telekom reported a bigger than expected quarterly core profit as a rise in earnings in the United States offset heavy investments in its German networks.Second-quarter earnings before interest, tax, depreciation and amortisation (EBITDA), excluding special items, rose to 4.43 billion euros ($5.9 billion), above the average forecast of 4.35 billion euros in a Reuters poll."Our strategy so far has been to make bold and prudent investments, focus first on lifting customer numbers, and then on upping revenues and results. And we are now starting to reap the rewards," said Chief Executive Tim Hoettges in a statement.Last week unit T-Mobile US reported its first net profit in a year, raised its forecasts for subscriber growth and reported the most postpaid phone subscriber additions in the industry.

Shares of TMUS fell by 8.4% or $-2.85/share to $31.06. In the past year, the shares have traded as low as $22.95 and as high as $35.50. On average, 4372060 shares of TMUS exchange hands on a given day and today's volume is recorded at 17733466.