Deutsche Telekom Q2 Revenue +4.4%, Outlook Raised

Deutsche Telekom Q2 Earnings and Outlook Update

Deutsche Telekom AG reported that second‑quarter revenue increased 4.4% year‑on‑year to €29.93 billion (approximately $34.56 billion). Adjusted EBITDA after leases rose 7.5% to €11.82 billion, and adjusted net profit climbed 11.1% to €2.78 billion. The company noted that reported net profit declined 6.3% due to higher restructuring and integration expenses incurred in the United States.

For the first half of 2026, organic service revenue grew 3.9% and adjusted EBITDA after leases grew 7.4%, driven by continued customer additions, network expansion and AI‑driven efficiency initiatives. Deutsche Telekom reaffirmed its adjusted earnings‑per‑share guidance of about €2.20 and its adjusted EBITDA after leases target of roughly €47.5 billion for the full year.

The outlook was upgraded on the basis of stronger free‑cash‑flow expectations from its majority‑owned U.S. subsidiary, T‑Mobile US, where the midpoint free‑cash‑flow guidance is set at $18.6 billion. Correspondingly, the full‑year free‑cash‑flow‑after‑leases forecast was raised to approximately €20.0 billion from the earlier estimate of €19.8 billion.

In addition, Deutsche Telekom increased its 2026 share‑buyback authorization by up to €3 billion, bringing the total potential buyback programme to as much as €5 billion.