Technology

Telefonica Deutschland lifts outlook after strong Q2

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BERLIN, July 28 (Reuters) - Telefonica Deutschland (O2Dn.DE) said it was raising its outlook for revenue and core profit this year to show slight growth after posting the strongest first-half growth since the merger that created the company in 2015.

The unit of Spain's Telefonica (TEF.MC) said second-quarter revenue rose by 5.7% to 1.9 billion euros ($2.25 billion), driving growth in adjusted core profit of 10.8% to 612 million euros.

"We developed very well in the first half of the year and achieved record growth in revenue and operating profits," CEO Markus Haas said in a statement.

Telefonica Deutschland, which has set a target of growing revenue by a cumulative 5% from 2020 to 2022 and improving its margins, was "fully on course", Haas said. The company added 374,000 new mobile customers in the second quarter.

($1 = 0.8462 euros)

Reporting by Douglas Busvine; Editing by Maria Sheahan

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