Deutsche Telekom rings up big profits thanks to US tax reform

said braka 9:37 AM
Profit leapt by 29.4 percent to 3.46 billion euros ($4.2

billion) for the year, thanks partly to one-off tax savings of 1.7 billion euros resulting from reforms pushed through by US President Donald Trump in December.
By comparison, the German group's 2016 profits had been dragged down by a decline in the British Telecom share price and in the pound sterling following the UK's vote to leave the European Union.
Adjusted operating, or underlying  increased 3.8 percent, to 22.23 billion euros, on the back of a 2.5-percent increase in full-year revenues to 74.95 billion euros, Deutsche Telekom said.
One of the German firm's biggest earners remained its high-performing T-Mobile USA division, although there were signs growth was beginning to slow at the unit.
In 2017, it added just 1.13 million new customers compared with 8.2 million the previous year, and a hoped-for merger with the fourth-largest US mobile operator Sprint fell through.


Read more at: https://phys.org/news/2018-02-deutsche-telekom-big-profits-tax.html#jCp