Russia’s MTS Q2 net profit falls, beats forecasts

MOSCOW, Aug 26 (BestGrowthStock) – MTS (MBT.N: )(MTSI.MM: ), Russia’s
biggest mobile phone operator, said on Thursday its
second-quarter net profit fell almost 40 percent on forex
losses, but it beat analyst forecasts.

MTS said its net income for the three months to end June
fell to $354 million from $577 million in the year-earlier
period, ahead of an analyst projection of $344 million.
[ID:nLDE67N1WR]

The company also increased its revenue growth forecast for
this year to 10 percent from previously expected rise of 5
percent.

(Reporting by Vladimir Soldatkin; editing by John Bowker)

Russia’s MTS Q2 net profit falls, beats forecasts