By Mauro Orru 
 

Deutsche Telekom AG said Thursday that revenue for the third quarter climbed following the merger of T-Mobile US Inc. and Sprint and continuing growth in Europe, and raised its guidance for the full year.

The German telecommunications company said revenue for the quarter increased to 26.39 billion euros ($31.08 billion) from EUR20.02 billion for the third 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--climbed to EUR9.69 billion from EUR6.48 billion.

Quarterly net profit fell to EUR817 million from EUR1.37 billion.

Deutsche Telekom raised its 2020 outlook and now expects adjusted Ebitda after leases of at least EUR35 billion for the year, instead of around EUR34 billion as previously expected.

"We are raising our guidance thanks to strong business on both sides of the Atlantic. And we are able to do this despite feeling the effects of the pandemic in some areas," Deutsche Telekom Chief Executive Tim Hoettges said.

 

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

 

(END) Dow Jones Newswires

November 12, 2020 01:21 ET (06:21 GMT)

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