Germany's telecommunications giant Deutsche Telekom has reported a sharp rise in first quarter net profits.
The company said net profit rose to 924 million euros, up from 459 million euros in the same period last year. Chief executive Rene Obermann said with these earnings, the Bonn-based company had laid a strong foundation for the rest of the year. Europe's largest phone company confirmed its outlook for a core profit of around 19.3 billion euros this year.
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