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Business

T-Online Earnings Soar

Europe's largest Internet provider and a unit of Germany's Deutsche Telekom, T-Online, posted a 62 percent rise in second-quarter core earnings. Earnings before interest, depreciation and amortization (EBITDA) came in at €130.6 million ($159.8 million), up from €80.8 million a year ago. The head of T-Online's Financial Supervisory Board, Rainer Beaujean said at a press conference that the company had also raised its profit expectations for 2004 and could reach up to €300 million. However, increased competition on the DSL, broadband Internet access, has forced T-Online to revise its forecast on sales, down to 8 to 10 percent from an initial 20 percent.