Deutsche Telekom stock: Q3 growth lifts 2026 outlook

Deutsche Telekom reported stronger third-quarter operating performance on Thursday, November 5, and raised parts of its 2026 outlook. The company said organic revenue increased 5.5 percent year over year to 31.1 billion euros, while adjusted EBITDA AL rose 8.0 percent to 12.2 billion euros.

The figures and revised targets were published in Deutsche Telekom's third-quarter release. Adjusted net profit increased 12.7 percent to 3.0 billion euros, while free cash flow AL rose 1.4 percent to 5.7 billion euros.

Higher targets and shareholder returns

Deutsche Telekom now expects adjusted EBITDA AL of around 47.6 billion euros in 2026, up from around 47.5 billion euros previously. The free cash flow AL forecast increased to around 20.1 billion euros from around 20.0 billion euros. Recurring adjusted earnings per share guidance remains at 2.20 euros.

Management linked the higher group expectations to stronger prospects at T-Mobile US. The company plans to raise the 2026 dividend to 1.10 euros per share, 10 percent above the payout for the 2025 financial year. It also plans share buybacks of up to 2 billion euros in 2027, subject to the relevant corporate approvals.

United States remains the main growth driver

T-Mobile US service revenue increased 6.3 percent year over year to 19.4 billion US dollars in the third quarter. Adjusted EBITDA AL rose 11.4 percent to 9.4 billion US dollars, reinforcing the importance of the US business for the group's revised targets.

In Germany, revenue grew 3.9 percent to 6.6 billion euros and adjusted EBITDA AL rose 1.5 percent to 2.8 billion euros. The company added 11,000 broadband customers and reported 190,000 new pure-fiber customers during the quarter.

Current trading and investor focus

Deutsche Telekom stock traded at 25.96 euros on Lang & Schwarz at 17:35 CET on Tuesday, November 10, 2026.

The DAX market backdrop remains relevant for the domestic listing as investors assess earnings momentum and capital returns.

More news and analyses on Deutsche Telekom stock will follow the company's outlook and shareholder-return plans.