Royal KPN NV, the Dutch telecommunications company, has reported an increase in net income and revenue for the first quarter of 2023. The company’s Q1 net profit was €196m, which exceeds the €165m company-compiled consensus and also exceeds last year’s Q1 net income of €179m. Meanwhile, KPN's adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), after leases, stood at €584m, compared to €593m the year before. The adjusted revenue for the quarter was €1.33bn, compared to €1.31bn a year earlier, driven by growth in the business and consumer divisions. The company’s guidance for the year remains, with an expected adjusted EBITDA after leases for 2023 of around €2.41bn and a capital expenditure of €1.2bn. The expected free cash flow is around €870m. KPN's results have been welcomed, given economic uncertainties in the industry, such as concerns over the rising cost of living, inflation, and high interest rates.