By Emre Peker
ISTANBUL--Turkey's biggest mobile-phone operator Turkcell
Iletisim Hizmetleri AS's (TKC) third-quarter net profit rose 8%,
beating expectations, as soaring growth in broadband sales boosted
revenues to a record high.
Net income increased to 755 million liras ($338 million) in the
three months ended September from TRY699 million in the
year-earlier period, the Istanbul-based company said on its website
late Thursday.
Analysts had forecasts a fall in profit to TRY657 million.
Turkcell said its revenue grew by 6% to a high of TRY3.2 billion
in the period, while its earnings before interest, taxes,
depreciation and amortization, or Ebitda, rose 3% to TRY1.05
billion. Fueling the surge in sales were the mobile and
fiber-broadband businesses, both of which grew at a pace of
38%.
"The third quarter of the year was seasonally favorable with
increased customer usage. Meanwhile, aggressively priced offers
introduced in the first half continued to be effective throughout
the quarter," Turkcell said.
Turkcell said it maintains full-year revenue guidance of TRY12.2
billion.
The company's Ukraine operation Astelit recorded a 16% revenue
increase in local currency terms, but the foreign-exchange
devaluation of 62% translated to a 21% decline in lira terms,
according to the earnings statement.
In early Friday trading, Turkcell shares rose 1.2% to 12.55
liras apiece, compared with a 0.26% rise in the benchmark BIST-100
Index.
Write to Emre Peker at Emre.Peker@wsj.com
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