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Deutsche Telekom(DT Quote) said first-quarter earnings surged from a year ago despite a decline in revenue, buoying shares in early trading, but the company did not address rumors of a Sprint Nextel (S Quote) buyout.
The German telecom giant posted a first-quarter profit of 924 million euros, more than double what Deutsche Telekom earned in the year-ago quarter. Adjusted for special items, the company had a profit of 750 million euros, up from 563 million euros in the first quarter of 2007.
However, revenue in the first quarter fell 3.1% to 14.98 billion euros, down from 15.45 billion euros in the year-ago period. Still, Deutsche Telekom shares were rising 31 cents, or 1.8%, to $17.90. ...
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