Deutsche Telekom saw its revenue climb and losses narrow in the fourth quarter, thanks mainly to customer growth at its T-Mobile US business and mobile service revenue growth in Germany.
The German carrier’s net loss for the final three months of last year fell to €110 million ($124.64 million) compared with a loss of €752 million in the previous year’s Q4. Meanwhile, revenue climbed 8.5% to €17 billion for the quarter, marking the first time since setting up its German operating segment that the company notched quarterly revenue growth in its headquarters country, according to The Wall Street Journal.
On Feb. 19, T-Mobile US showed improved financial results that in most cases exceeded expectations. The carrier reported $8.154 billion in total revenue for the quarter, well ahead of the nearly $6.9 billion posted last year. For the full year, revenue jumped more than $5 billion to $29.5 billion. For more details, read RCR Wireless News’ original coverage here.
Bharti Airtel reduces stake in mobile tower unit
Bharti Airtel raised $310 million through a secondary share sale in its mobile tower unit Bharti Infratel, reducing its equity stake to 71.9%.
The Indian carrier said it plans to use the money to reduce debt. It had net debt of almost $11 billion at the end of December, according to Reuters.
