T-Mobile US Revenue Miss Casts a Long Shadow Over Deutsche Telekom’s Buyback Blitz
Published on 07/24/2026 at 14:31 | Redaktion boerse-global.de
The aftershocks of T-Mobile US’s quarterly report continue to rattle Deutsche Telekom’s stock, with the shares nursing a weekly loss of 3.89 percent as they change hands at €25.95. The sell-off, which accelerated with a 4.22 percent drop on Thursday alone, has erased much of the ground gained since early July and left the stock trading more than 24 percent below its 52-week high of €34.35 reached in late February.
The US wireless carrier delivered a mixed bag on July 23 that left investors parsing the details. T-Mobile US smashed profit expectations with earnings per share of $2.99 against a consensus estimate of $2.59, while revenue climbed 7.9 percent to $22.79 billion — a figure that fell short of analyst projections. That revenue miss, coupled with a 13 percent year-on-year decline in postpaid net additions to 277,000 (though still ahead of forecasts), was enough to sour the mood. The brighter spots included an upgraded full-year outlook for adjusted free cash flow, now pegged at $18.4 billion to $18.8 billion, up from the prior range of $18.1 billion to $18.7 billion.
The parent company’s management has been leaning heavily on its €2 billion share buyback program for the full year as a signal of confidence. The third tranche, launched at the start of July with a volume of up to €560 million, has been running at full throttle. Between July 13 and 17 alone, Deutsche Telekom repurchased 1.35 million shares at an average price of roughly €26.73, bringing the total since July 1 to 3.67 million shares. The buyback has provided a floor of sorts, but it has been unable to stem the recent slide.
Should investors sell immediately? Or is it worth buying Deutsche Telekom?
Analysts remain broadly constructive, even as they trim their price targets. Deutsche Bank Research lowered its target from €42 to €40 on July 21 while maintaining a “Buy” rating, citing intensifying competition from satellite internet services such as SpaceX’s Starlink and the heavy capital spending required for AI initiatives. A potential partnership with OpenAI is seen as one factor that could help stabilise the company’s position in the artificial intelligence race. Other analysts echo the view that Deutsche Telekom’s relatively cheap valuation and the prospect of greater clarity on M&A opportunities outweigh the near-term headwinds.
The technical picture has deteriorated. The stock triggered a sell signal on July 21 when it crossed below its 38-day moving average near €26.13, and it now sits 9.03 percent below its 200-day average of €28.67 — evidence that the pullback is more than a fleeting wobble. At current levels, the shares are roughly 10 percent above the year’s low set on June 30.
All eyes now turn to August 6, when Deutsche Telekom reports its own second-quarter and first-half results. The numbers will reveal whether the weakness at T-Mobile US has infected the broader group’s performance. For a stock that has shed nearly a quarter of its value from its peak, the earnings release represents the next critical test — one that could either validate the buyback-driven confidence or deepen the doubts that have sent the shares sliding.
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