Deutsche Telekom AG · Q2 2026 earnings

Briefing

Deutsche Telekom AG reported strong Q2 2026 results with net revenue of EUR 29.9 billion, up 4.4% year-over-year, and raised its full-year free cash flow guidance.

Deutsche Telekom delivered robust organic growth in the second quarter of 2026, driven by its U.S. operations at T-Mobile US and solid performance in Germany and Europe. Net revenue reached EUR 29.933 billion, adjusted EBITDA AL rose to EUR 11.821 billion, and free cash flow AL increased to EUR 5.027 billion. The company updated its 2026 outlook upward for free cash flow AL while maintaining other guidance targets.

• Net revenue increased 4.4% to EUR 29.933 billion, with organic growth of 3.3%.
• Adjusted EBITDA AL grew 7.5% to EUR 11.821 billion; adjusted net profit rose 11.1% to EUR 2.784 billion.
• Free cash flow AL up 3.1% to EUR 5.027 billion; full-year guidance raised to around EUR 20.0 billion.
• Reported net profit declined 6.3% to EUR 2.45 billion due to integration costs and prior-year effects.

Headline financials

Revenue & EPS history

Company raised 2026 free cash flow AL guidance to around EUR 20.0 billion from more than EUR 19.8 billion; reaffirmed adjusted EBITDA AL of around EUR 47.5 billion and adjusted EPS of around EUR 2.20.