Deutsche Telekom Q1 Net Profit Drops

reported a 56.7 percent drop in its net profit for the first quarter. Deutsche Telekom's quarterly net profit slipped to EUR787 million ($885 million), versus a year-ago profit of EUR 1.82 billion. Its adjusted net profit came in at EUR1.04 billion for the first quarter, compared to 587 million euros last year. Its revenue climbed 13.1 percent to 16.84 billion euros, while organic revenue jumped 4.7 percent. EBITDA slipped 26.2 percent to 4.16 billion euros, while adjusted EBITDA gained 11 percent year-over-year to 4.57 billion euros. Total revenue in Germany gained 1.9 percent year-over-year, while revenue in United States jumped 36.1 percent. The company confirmed its outlook for the full year. Deutsche Telekom shares fell 0.59 percent to close at $18.61 yesterday.