News Summary: Deutsche Telekom 2nd-qtr profit up

AP News
Posted: Aug 08, 2013 12:44 PM

U.S. REBOUND: Deutsche Telekom AG reported its net income rose 10 percent in the second quarter, boosted by its U.S. business adding "droves" of new customers.

SPENDING BOOST: The company cut its profit target for the year due to the extra spending on marketing and other expenses tied with the increase in business in the U.S. MetroPCS merged with Telekom's U.S. business in May to form T-Mobile US.

SIGNING UP: The company said its U.S. business added 688,000 customers under branded contract plans, the most lucrative kind for phone companies, in the April-June quarter, compared with a loss of 557,000 in the year-ago quarter.