On Thursday, the Deutsche Telekom AG announced its second-quarter financial report. It has been reported that in the second quarter, the company’s operating profit fell down by 8% to EUR3.79 billion. The Company has blamed 3.3% drop in its sale, as the main reason for drop in its second quarter profit.

The Deutsche Telekom AG deals majorly in the European markets. As the European markets have not been doing well, the profits of many companies like Deutsche Telekom AG are facing losses. Although its profit dropped in the European markets, in Germany, the Company was successful in booking profit.

Commenting upon the profits gained by the Company in Germany, Chief Executive Rene Obermann said, “Although these figures are not a cause for celebration, they still give us reason to be confident that we will achieve our targets”.

Mr. Obermann informed that to book profit in the markets of Europe, the Company is looking forward to selling its T-Mobile USA for $39 billion. It has emerged that following the fall in the European market, the Company lost about
281,000 net contract customers in the second quarter. Concerned over fall in its customers, the Company is planning to take an exit from the US market.