Deutsche Telekom Q1 core profit drops on U.S. investments
FRANKFURT May 8 (Reuters) - Deutsche Telekom reported a 3.9 percent drop in first-quarter core profit on a 8 percent rise in revenues as investments in its U.S. business T-Mobile US weighed.
Fourth-quarter earnings before interest, tax, depreciation and amortisation (EBITDA), excluding special items, dropped to 4.12 billion euros, broadly in-line with the average forecast of 4.13 billion euros in a Reuters poll.
Germany's former phone monopoly said on Thursday it still expected 2014 EBITDA, excluding special items, to remain stable at around 17.6 billion euros in 2014 and that free cash flow would drop to around 4.2 billion euros on additional investments.
T-Mobile US, which is controlled by Deutsche Telekom said last week it had added 2.4 million new customers, more than its top three rivals combined. (Reporting by Harro ten Wolde; editing by Thomas Atkins)