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Deutsche Telekom 1Q Net Loss Euro1.1 Billion

Stock quotes in this article: DTE  

GEORGE FREY

FRANKFURT (AP) — Germany's Deutsche Telekom AG reported Thursday a large first quarter net loss which the company blamed on a "strong economic slowdown" and more intense competition, especially in the U.K.

The Bonn-based company said it lost euro1.1 billion ($1.46 billion) in the January-March period compared with a net profit of euro924 million in the first quarter of 2008.

Revenues were 6.2 percent higher at euro16 billion compared with euro15 billion in the first quarter of 2008. ...

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