By Mauro Orru 
 

Deutsche Telekom AG said Thursday that net profit and revenue for the first quarter of 2020 increased year-on-year thanks to growth in the U.S. and Germany.

The German telecommunications company said quarterly net profit rose to 916 million euros ($993 million) from EUR900 million for the first quarter of 2019.

Adjusted earnings before interest, taxes, depreciation and amortization after leases--a metric that measures operating earnings performance accounting for the adoption of IFRS 16--jumped to EUR6.54 billion from EUR5.94 billion.

Revenue for the period climbed to EUR19.94 billion from EUR19.49 billion.

The company said it expects the coronavirus pandemic to have limited impact on revenue and confirmed its 2020 guidance, expecting revenue to increase in the year, with adjusted Ebitdaal forecast at about EUR25.5 billion.

"Deutsche Telekom is an anchor of stability in a global crisis," said Chief Executive Tim Hoettges.

The results come just over a month after Deutsche Telekom's T-Mobile US Inc. closed its takeover of Sprint Corp. in the U.S. after a nearly two-year battle with federal and state authorities.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

May 14, 2020 01:28 ET (05:28 GMT)

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