MTS Reports Second-Quarter Net Loss

Russia's MTS posted a loss in the second quarter. MTS posted a quarterly net loss of $681.8 million. Excluding write-offs, MTS earned $357 million, beating analysts' estimates of $320 million. Its revenue fell 0.2% to $3.12 billion, versus estimates of $3.08 billion. MTS' operating income before depreciation and amortisation gained 5.4% to $1.37 billion, versus analysts' estimates of $1.32 billion.