UPDATE: VimpelCom Posts Higher Q3 Profit

VimpelCom Ltd

posted a rise in its third-quarter net profit. VimpelCom's quarterly net profit surged to $538 million, from $189 million, in the year-ago period. However, analysts were expecting a net profit of $506 million. Its earnings before depreciation and amortization declined to $2.53 billion from $2.57 billion, versus analysts' estimates of $2.51 billion. VimpelCom's revenue dropped to $5.75 billion from $6.10 billion, versus analysts' estimates of $5.75 billion. VimpelCom shares closed at $10.71 yesterday.