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Turkcell Beats Expectations with Second-Quarter Net Profit

By Yeliz Candemir ISTANBUL--Turkcell Iletisim Hizmetleri AS (TKC), Turkey's leading cell phone operator, late Wednesday posted better-than expected results in the second quarter, mainly due to higher net financial gains on the back of the removal of a foreign exchange loss stemming from operations in Belarus. Turkcell said its net profit in the second quarter was 535.8 million Turkish lira ($294.3 million), compared with a net loss of TRY18.4 million in the same period a year earlier and above the average forecast in a Dow Jones Newswires survey of six analysts for net profit of TRY471.2 million. The company's revenue rose 12.5% to TRY2.56 billion, above average analysts' forecasts of TRY2.4 billion revenue. "The bottom line was positively affected by the TRY39.3 million monetary gain out of inflation accounting standards applied for Belarusian subsidiary and hence paved the way for an upward revaluation of the assets," said Istanbul-based brokerage Ekspres Invest in a note. Write to Yeliz Candemir at yeliz.candemir@dowjones.com Order free Annual Report for TURKCELL Iletisim Hizmetleri AS Visit http://djnweurope.ar.wilink.com/?ticker=TRATCELL91M1 or call +44 (0)208 391 6028 Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Turkcell Ilet (TKC)
DateTimeHeadline
10/24/201405:02:06Turkcell's 3Q Net Profit Rises 8% on Soaring Broadband Sales
07/25/201411:54:45Cukurova and Alfa Agree on Term for Financing in Turkcell Stake
05/13/201406:38:11Turkcell Holder Cukurova Must Pay $1 Billion in Damages to TeliaSonera:...
04/25/201405:02:32Turkcell First-Quarter Net Profit Hit By Ukraine Operations
04/23/201402:40:07TeliaSonera 1st Quarter Revenue, Profit Decline
04/23/201402:25:12TeliaSonera First-Quarter Revenue, Profit Decline
02/05/201409:52:08Turkcell Shareholder Cukurova Gets Extension on Payment to Alfa...
01/02/201409:04:15Turkcell Says Faces TRY527.7 Million Tax Demand and Fine
11/15/201309:01:37HBK Investments LP 3Q 13F: Largest Eliminations
11/15/201309:01:27HBK Investments LP 3Q 13F: Largest Eliminations -2-
11/15/201309:01:27HBK Investments LP 3Q 13F: Largest Sales
11/15/201309:01:27HBK Investments LP 3Q 13F: Largest Purchases
08/16/201306:53:36Turkish Regulators Move to End Turkcell Quagmire
07/29/201311:55:22UK Court Grants Turkcell's Stakeholder Cukurova Extension to...
07/16/201309:02:12Turkcell Holder Cukurova Seeks Extension For $1.56 Billion Alfa...
07/16/201306:15:09Turkey's Regulator to Appoint Two Board Members to Turkcell
07/09/201310:13:11TeliaSonera Welcomes UK Court Decision on Turkcell
07/09/201306:09:58Turkcell Majority Stake to Cost Cukurova $1.56 Billion, UK Court...
06/24/201306:24:16TeliaSonera: Regrets Turkcell's Failed AGM
05/29/201311:36:08Turkcell To Hold Postponed Annual General Meeting on June 24

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