DTEGY - Deutsche Telekom gains on Q1 beat raised 2022 guidance

Deutsche Telekom (OTCQX:DTEGY) is 2.9% higher in U.S. trading following its first-quarter earnings, which beat expectations on top and bottom lines and held an improved outlook for the full year. Net revenues rose 6.2% to €28 billion (about $29.1 billion); service revenue rose 10%, to €22.3 billion. That was buoyed by strong results at T-Mobile - DT's U.S. revenues rose 9.5% overall to €18.05 billion (about $18.8 billion), the key contributor mainly due to exchange rate effects. In organic terms, revenue rose 1.5% year-over-year with the higher service revenue partly offset by lower terminal equipment revenues. Another strong performer was the Group Development unit, where revenues rose 5.5%, thanks to operational and structural growth at T-Mobile Netherlands and GD Towers. Adjusted EBITDA after leases also topped expectations at €9.87 billion (about $10.26 billion), with all operating segments making a positive contribution. Net profit increased year-over-year by €3 billion, to €3.9

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Deutsche Telekom gains on Q1 beat, raised 2022 guidance