It now expects pre-tax earnings of about $38 billion this year - around half a billion up on previous guidance.
Thursday's (August 11) bullish outlook comes after it beat quarterly profit forecasts.
Adjusted earnings hit about $10 billion.
Now the German firm wants to speed up moves to take full control of T-Mobile.
It's already bought more shares in the U.S. network from Japanese investment giant SoftBank.
That took its stake close to the 50% mark.
T-Mobile accounts for three-fifths of group revenue, and much of its subscriber growth.
It's been adding customers since merging with Sprint, and as it rolls out its 5G services.
Over the latest quarter, T-Mobile added 1.7 million pay-monthly customers, taking its subscriber base to 110 million.
That's slightly more than Deutsche Telekom itself has in Germany and across Europe.
