Deutsche Telekom Posts Drop In Q1 Earnings

Deutsche Telekom AG

reported a drop in its earnings in the first quarter. Deutsche Telekom's quarterly adjusted earnings before interest, taxes, depreciation, amortization, fell 4.3% to EUR4.29 billion, versus analysts' estimates of EUR4.24 billion. Its sales dropped 4.5% to EUR13.78 billion, versus estimates of EUR13.85 billion. Deutsche Telekom's after-tax profit rose 3.5% to EUR564 million. Deutsche Telekom shares closed at $11.99 yesterday.