Submitted by Fox First at Ten on February 28th
FRANKFURT, Germany (AP) - Deutsche Telekom says it lost €5.25 billion ($6.88 billion) last year due to non-cash accounting losses calculated on the ongoing merger of its T-Mobile USA division with mobile provider MetroPCS.
The loss compared to a net profit of €557 million in 2011. The company said Thursday it would keep its dividend at 70 euro cents.
The company reported some successes such as a higher percentage of more profitable smart phones in its large home market, Germany, and the first rise in customers at its US business since 2009.
But overall revenues declined 0.8 percent to €58.17 billion. The U.S. business saw sales decline by 4 percent in U.S dollar terms.
Fourth-quarter net profit was €793 million, up from a loss of €1.34 billion a year ago.
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