Deutsche Telekom Q1 Profit Up, But Outlook Darkens

"Overall, Deutsche Telekom's figures were slightly above forecast in Germany, in both fixed-network and mobile business," Telekom said in its statement.

"On the other hand, the group felt the impact of the economic slowdown and the more intense competitive environment, particularly in the United States and the United Kingdom. In Poland and the United Kingdom, fluctuations in the local currency exchange rates also had a negative effect."

Telekom said it saw a marked decline in roaming fees, in the U.S., the U.K. and Poland for example, as less people traveled. The company said it also saw less overall European revenues from mobile communications.

Telekom will report full earnings on May 7.

Shares of the company were 6.7 percent lower at euro9.05 in Frankfurt afternoon trading.

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