UPDATE: Vimpelcom Q2 Net Profit Rises 83%

Vimpelcom VIP posted an 83% surge in its second-quarter net profit. Its quarterly net profit rose to $488 million, versus a pro forma $267 million, in the year-earlier period. However, analysts were expecting a net profit of $340.3 million. Its revenue declined 4% to $5.7 billion. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) climbed 2% to $2.48 billion, versus analysts' estimates of $2.38 billion. Vimpelcom shares gained 1.08% to close at $9.38 yesterday.