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Deutsche Telekom Quarterly Earnings Climb 13% on T-Mobile US

Deutsche Telekom AG reported an increase in third-quarter earnings after the euro’s weakness bolstered revenue in the U.S., while competition with Telefonica SA and spending to upgrade wireless networks weighed on profitability in Germany.

Earnings climbed 13 percent to 5.17 billion euros ($5.6 billion) stripping out interest, taxes, depreciation, amortization and other items, the Bonn-based company said in a statement Thursday. Sales rose 9.3 percent to 17.1 billion euros. Analysts had projected adjusted Ebitda of 5.14 billion euros on sales of 17.3 billion euros, according to data compiled by Bloomberg.

“It’s a slight weakening of the organic growth path, yet I expect Germany to perform better in the fourth quarter,” said Wolfgang Specht, an analyst at Bankhaus Lampe who rates the stock hold.

Deutsche Telekom shares fell 2 percent in Frankfurt at 9:22 a.m., giving the company a market value of 76 billion euros.

Deutsche Telekom competes with Vodafone Group Plc and Telefonica Deutschland Holding AG as it seeks to win over customers to its MagentaOne service -- a package of phone, Internet and television services it rolled out late last year and is also bringing to other European countries. Rivals including United Internet AG and Drillisch AG are putting pressure on wireless bills with their lower-cost offerings.

“While MagentaOne is a great driver of customer retention, it’s not as...