Deutsche Telekom dials up outlook

Frankfurt am Main: German telecoms giant Deutsche Telekom slightly raised its 2017 outlook, again driven by strong growth in the United States, even as third quarter profits plummeted. The logistics group saw net profit tumble by more than 50 per cent to 507 million euros between July and September. Third-quarter adjusted operating profit grew by 3.3 per cent however to 5.7 billion euros, on the back of revenues up 0.8 per cent to 18.3 billion euros. “Deutsche Telekom continues to post strong growth, which is why we are upgrading our forecast for the second time this year,” said Tim Hoettges, CEO of Deutsche Telekom. — AFP