Bloomberg News

Turkcell Rises Most This Year After Profit Beats Estimates

May 03, 2012

Turkcell Iletisim Hizmetleri AS (TCELL), Turkey’s biggest mobile-phone operator, recorded its biggest gain this year after its first-quarter profit climbed 56 percent, beating estimates.

Turkcell advanced 3.9 percent to 8.98 liras at the close in Istanbul, the strongest jump since Dec. 20.

Net income rose to 514.8 million liras ($292 million) from 330.1 million liras a year earlier, Turkcell said in a statement to the Istanbul Stock Exchange after the close yesterday. The year-earlier period included a charge related to its Ukraine unit.

Turkcell was expected to report a profit of 408.4 million liras, according to the average of 14 analyst estimates compiled by Bloomberg.

To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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