Earnings: Deutsche Telekom First Quarter Stable; T-Mobile Hit By Currency Declines

German telecoms giant Deutsche Telekom (NYSE: DT) reported stable first-quarter results with adjusted earnings before interest, taxes, depreciation and amortization of 4.7 billion euros ($7.28 billion), virtually unchanged from the same period a year ago. Net revenue was down slightly by 3.1 percent to 15 billion euros, hit by the customers leaving their broadband and fixed line businesses, and the appreciation of the euro against the US dollar and pound sterling. Still, the results were in line with analyst expectations, and the company said it expects to hit its forecast for 2008 of an adjusted EBITDA of approximately EUR 19.3 billion and free cash flow of some EUR 6.6 billion.

Highlights From the Earnings:

— DT

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