Turkcell First-Quarter Net Rises 56%, Beating Estimate
Turkcell Iletisim Hizmetleri AS (TCELL), Turkey’s biggest mobile phone operator, said first-quarter profit rose 56 percent, helped by mobile Internet revenue growth.
Net income rose to 514.8 million liras ($292 million) from 330.1 million liras a year earlier, the company said in a statement today. The year-earlier period included a charge related to its Ukraine unit. Turkcell was estimated to report net income of 408.4 million liras, according to the average of 14 analyst estimates compiled by Bloomberg.
Turkcell, partially owned by TeliaSonera AB (TLSN), is facing more competition at home from Vodafone Group Plc (VOD) and Avea Iletisim Hizmetleri AS, majority-owned by Turk Telekomunikasyon AS. (TTKOM) The country’s fixed and mobile telephone market grew 7.5 percent to 22.8 billion liras in 2011, according to the market regulator. Turkcell controlled 53 percent of the mobile market at the end of 2011, while Vodafone had 28 percent and Avea had 20 percent, according to Turkcell’s website.
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