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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
02/01/201611:47:26Report of Foreign Issuer (6-k)
02/01/201610:50:46Report of Foreign Issuer (6-k)
01/20/201607:12:00From life:) to lifecell: Turkcell’s Ukrainian Subsidiary Changes B...
01/07/201610:43:10Report of Foreign Issuer (6-k)
01/04/201607:00:00Turkcell Launches New IoT Service Leveraging ULE Solutions From...
12/22/201502:19:00Turkcell Reaches 1200 Mbps with 5 Carrier Aggregation in 4.5G...
12/18/201504:05:00Turkcell’s Ukrainian Subsidiary life:) Launches Communication A...
12/09/201513:18:13Report of Foreign Issuer (6-k)
12/02/201513:47:38Report of Foreign Issuer (6-k)
11/30/201515:41:49Report of Foreign Issuer (6-k)
11/27/201509:26:00Turkcell Launches Voice and Video Calls on Its IP-Based Communication...
11/26/201509:09:00Turkcell Investor Relations Receives Top Award with Its Financial...
11/25/201514:53:13Report of Foreign Issuer (6-k)
11/25/201514:47:08Report of Foreign Issuer (6-k)
11/12/201514:41:24Amended Statement of Beneficial Ownership (sc 13d/a)
11/11/201509:03:00Turkcell’s Global Bilgi Wins 2 Top Awards in Customer Management f...
11/09/201514:57:04Amended Statement of Beneficial Ownership (sc 13d/a)
11/09/201511:33:03Report of Foreign Issuer (6-k)
11/04/201511:52:41Report of Foreign Issuer (6-k)
10/30/201506:24:10Report of Foreign Issuer (6-k)

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