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Deutsche Telekom Reaffirms 2026 Adjusted EPS Outlook, Tweaks Other Guidance as US Unit's First-quarter Revenue Jumps
US Markets

Deutsche Telekom Reaffirms 2026 Adjusted EPS Outlook, Tweaks Other Guidance as US Unit's First-quarter Revenue Jumps

Deutsche Telekom (DTE.F) reiterated its 2026 adjusted EPS projection and nudged its adjusted EBITDA guidance higher after strong first-quarter revenue growth at its largest earnings contributor, T-Mobile US.The German telecommunications giant on Wednesday maintained its adjusted EPS guidance for the full year at 2.2 euros, while slightly raising expectations for adjusted EBITDA, after deducting lease expenses, to 47.5 billion euros from the previous 47.4 billion euros.Overall, group profit attributable to owners of the parent fell to 2.04 billion euros from 2.85 billion euros a year earlier, while net revenue edged up to 29.87 billion euros from 29.76 billion euros.Deutsche Telekom's majority-owned T-Mobile US posted a 10.9% year-over-year increase in revenue to $23.1 billion, supported by an 11.5% jump in service revenue. Postpaid accounts grew 6% to 34.4 million, prompting the company to raise its forecast for net account additions to between 950,000 and 1.1 million from its earlier guidance of 900,000 to 1 million.In Germany, the telecom group's total revenue increased 2.1% in organic terms to 6.3 billion euros in the first quarter. Mobile service revenue was up 2.1% year over year, while the company added 200,000 new customers in the three-month period.Meanwhile, the group's IT services and consulting arm T-Systems saw a 2.1% organic revenue growth in the quarter to 1 billion euros. Order entry for the unit increased 3.6% year over year to 994 million euros.The stock was up more than 1% in early morning trade.

$DTE.F
Asia Markets

German DAX Index Blinks Red; Deutsche Telekom Shares Down on Merger Rumors

German equities fell Wednesday, as investors assessed the federal government's spring economic forecast alongside a flurry of corporate updates.At closing, the blue-chip DAX index was down 0.31%.Federal Minister for Economic Affairs and Energy Katherina Reiche said the government now expects Germany's gross domestic product growth at 0.5% in 2026, down from the prior forecast of 1%, as energy and raw material prices surge amid the US-Iran conflict. In 2027, real GDP growth is projected to slightly accelerate at 0.9%, against the previous estimate of 1.3%. Inflation for the two-year period is seen at 2.7% and 2.8%, respectively.Speaking of the Middle East war, US President Donald Trump announced an indefinite ceasefire with Iran, the de-escalation remains tenuous, with the move viewed as a unilateral declaration without confirmation of compliance from Tehran or Tel Aviv. Trump also confirmed the US Navy would continue to block Iranian ports and coastlines."Three weeks ago, we saw a marked shift in the US-Iran War, from its 'kinetic' phase (bombing, etc.) to its 'economic' phase (mainly, the US's blockade of the Strait of Hormuz). This shift hasn't restored safe passage in the Strait yet, but traders are comforted, perhaps because the economic war attests to the US's strength (the navy's power to enforce a blockade and 'starve' Iran). The feeling is that this is a 'superior' strategy, which could lead to concessions from Iran earlier than otherwise," Macquarie said. "But controlling Hormuz also makes common cause with the US's recent attempts to control other critical 'straits', such as Gibraltar, Malacca, the Greenland-Iceland-UK Gap (GIUK), and Panama. If so, the US's long-term 'goal' may be to prevent China's hegemony by controlling all the physical nodes through which China's economy depends for its flows. Against that goal, having lower oil prices is of secondary importance to the US."On the corporate side, German semiconductor company Infineon Technologies (IFX.F) surged to one of the top spots of the blue-chip DAX, rising 3.23%, benefiting from a sector-wide rally after Dutch computer chip maker ASM International and electrification and automation company ABB reported strong first-quarter figures amid the ongoing artificial ​intelligence investment boom.Meanwhile, Deutsche Telekom (DTE.F) is weighing a potential merger with its US subsidiary, T-Mobile US, in a move to streamline the group's corporate and operational structure, according to a Bloomberg report. The deal would reportedly involve the creation of a new holding company designed to absorb the shares of both the German telecommunications company and its 53%-owned US unit. Deutsche Telekom was the worst performer, dropping 4.55%.

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