Turkcell Posts Upbeat Q3 Results

Turkcell Iletisim Hizmetleri AS

posted upbeat results for the third quarter. Turkcell's quarterly net profit surged to 570.8 million Turkish lira ($317.5 million), from TRY537 million, in the year-ago period. Its revenue climbed 9% to TRY2.75 billion. However, analysts were expecting a net profit of TRY568.2 million on revenue of TRY2.71 billion. Turkcell's EBITDA increased 4.7% y/y to TRY912 million. Turkcell shares closed at $15.19 yesterday.