Breaking News

Twitter Quarterly Profit of 2 Cents a Share Beats Estimates; Shares Surge
Tweet TWEET

MTS First-Quarter Net Surges 59% on Dealer Payments, Ruble, Debt

OAO Mobile TeleSystems, Russia’s biggest mobile operator, raised first-quarter profit 59 percent from a year earlier, beating estimates, as it cut financing costs and payments to dealers and benefited from ruble gains.

Net income climbed to $512 million from $322 million a year earlier, MTS, as the company is known, said today in a statement. That beat the average estimate of $395 million of nine analysts surveyed by Bloomberg.

Revenue rose 2.7 percent to $3.01 billion, the company said. Revenue may rise 5 percent to 7 percent this year, Chief Executive Officer Andrei Dubovskov said.

To contact the reporter on this story: Anatoly Temkin in St. Petersburg at atemkin@bloomberg.net

To contact the editor responsible for this story: Hellmuth Tromm at htromm@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.