Deutsche Telekom raises forecast
Deutsche Telekom raised its annual earnings forecast after its quarterly profit beat estimates, the company said earlier this week.
This is primarily from more customers signing up for its services in Europe and its US unit T-Mobile.
Despite this, the company’s 8.8% growth in net revenues to €29 billion fell short of expectations which were €29.2 billion.
“Our businesses continue to grow, said Tim Hottges, chairman of Deutsche Telekom’s management board.
“That puts us in a position to raise not only our guidance – for the third time this year – but also our dividend.”
Customer ads drive growth for Three UK
Three UK has reported 7% growth to £656 million in its third quarter results, driven by an increase in its customer base.
Its active customer base increased by 700,000 or 7% year-on-year to 10.3 million. Contract customers grew 5% to 8.3 million, primarily driven by its B2B and SMARTY offerings.
Robert Finnegan, Chief Executive of Three UK, said: “Momentum across Three UK has continued in Q3, demonstrated by the strong performance that we have achieved across our financial metrics.
“It is clear our strategy to improve our network is delivering, as more individuals and businesses are choosing Three UK as their preferred network.
“However, our returns are below our cost of capital and EBITDA remains below capex. Therefore, for Three to continue investing in the UK’s digital infrastructure, structural change is needed to the industry.”
Telefonica revenues increase in Q3
Telefonica’s revenues increased by 11.2% in the third quarter as it reached a net income of €1,486 million. Revenues reached €10,343 million and OIBDA grew by 8.5% on a comparable basis.
“Telefónica once again demonstrated the robustness of its business, confirming its financial targets for the full year. In this period, the company has doubled its cash generation compared to the previous year, despite the complex environment of global uncertainty and the deep energy and inflation crisis,” said José María Álvarez-Pallete, Chairman and CEO of Telefónica.
“Telefónica continues to execute its strategic plan and the strength of the balance sheet allows the company to face the demands of this new digital era while maintaining its firm commitment to create a better, more connected and more equal world.”
Liberty Latin America reports slight growth
Liberty Latin America reported a revenue increase of 2% to US$1.2 billion and 400,000 organic broadband and postpaid mobile additions in the last 12 months.
The company, which completed a 50/50 joint venture with Claro Chile in October said it anticipates a seasonally strong end to the year through the integration of its acquisition.
CEO Balan Nair said: “Our focus on broadband and mobile postpaid subscriber growth continued to drive our revenue performance.
“Strategically, we continue to progress our integration activities across Puerto Rico, Panama, and Costa Rica and are set to deliver significant value for stakeholders as we combine operations and work towards realising full run-rate synergies in excess of $150 million.
“In early October, we completed the previously announced JV with Claro in Chile, and the new management team is now in place.
“While that team is early in their planning and integration processes, we expect them to drive significant synergies consistent with our plans and to drive operational growth.”
DigitalBridge earnings beat forecasts despite loss
DigitalBridge reported a third quarter loss of US$49.1million in its Q3 earnings. The company reported third quarter total revenues of US$297 million.
This, though, beat analysts’ forecasts which had anticipated heftier losses for the firm.
Marc Ganzi, CEO of DigitalBridge said, “During the third quarter, we continued to form capital around great companies and investment strategies, delivered attractive outcomes for our investors, and further simplified our business and capital structure.
“Despite macro headwinds, our portfolio companies continue to demonstrate strong growth, highlighting the resilience of the digital infrastructure sector.”