Deutsche Telekom has reported a robust financial performance for the second quarter of 2024, with a revenue increase of 4.3%, totaling 28.39 billion euros compared to the same period last year.

The company's adjusted EBITDA also saw a significant rise, increasing by 7.8% to 10.8 billion euros, which surpassed industry forecasts.

Cash flow surged nearly 50% to 5.2 billion euros, exceeding analysts' expectations of 4.5 billion euros, indicating strong dividend potential.

Net income per share rose to 0.42 euros, up from 0.31 euros in the same quarter last year, while adjusted earnings per share increased to 0.50 euros from 0.38 euros.

Deutsche Telekom experienced significant customer growth in Q2 2024, adding 311,000 new contract customers, driven by high demand for mobile contracts, particularly family plans.

Factors contributing to this growth included the ongoing UEFA European Championship in Germany and new regulations for cable connections.

T-Mobile US reported a 4.2% increase in postpaid customers, bringing the total to 125.9 million, further bolstering Deutsche Telekom's customer base.

While the number of fixed-line connections decreased slightly, broadband connections increased by 0.7% to 15.1 million, with 12 million being fiber optic connections.

As a result of its strong performance, Deutsche Telekom raised its full-year free cash flow guidance to approximately 19 billion euros from the previous estimate of 18.9 billion euros.

By mid-2024, Deutsche Telekom's 5G network is expected to cover 97% of the population in Germany, enhancing its service offerings.

The company also reported a 2.6% increase in TV customers, growing to 4.5 million, likely influenced by the UEFA Euro 2024.