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“Reliable” Deutsche Telekom sees modest TV growth

Deutsche Telekom has reported a steady growth in its TV division.

In Germany, Magenta TV saw an increase of 58,000 customers, contributing to a total of 3.48 million and an increase of 1.7%. However, this performance does not live up to Q4 2018 and Q1 2019, where 62,000 and 66,000 customers signed up to the service.

Across Europe, which includes Poland where Magenta TV launched in June, TV customers increased by 0.1% (6,000) from 4,904,000 to 4,910,000. While this change is only incremental, the year-over-year statistics are a lot more telling, with an increase of 14.4% (616,000).

Overall, net revenue for the company is up by 3.2% over the first half of the year to €39.2 billion, with net profit up by more than 90% in Q2.

“We remain reliable,” said Tim Höttges, CEO of Deutsche Telekom. “Our business performed well in all areas again in the first half of 2019. That puts us in a position to deliver the results we promised.”

The company increased its German mobile service revenues 2.4% year-over-year. The report also points out that the average mobile data used per month by its customers exceeded 3GB for the first time.

German fixed network growth continued, rising by 22% year-over-year to 13.4 million lines (an increase of 521,000 lines in the quarter), with 83,000 new customers signing up for converged product under the name MagentaEINS.