By Yeliz Candemir
ISTANBUL--Turk Telekomunikasyon AS (TTKOM.IS) reported Tuesday a
32% decline in first-quarter net profit due to foreign-exchange
losses, but the result was slightly above analyst expectations.
Net profit totaled 526.4 million Turkish lira ($293 million),
slightly above a market consensus forecast of TRY506 million, but
below the TRY771.6 million profit posted a year earlier.
Income from sales increased to TRY3.14 billion from TRY2.96
billion, according to a statement to the Istanbul Stock
Exchange.
After the results, Turk Telekom shares were trading 0.25% lower
at TRY8.04, amid an overall decline of 0.6% in the Istanbul market
by 0930 GMT.
Write to Yeliz Candemir at yeliz.candemir@dowjones.com
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