Net income declines 38.7%
Mobile TeleSystems (MTS) has reported total revenues of $2.77bn for the second quarter of 2010, an increase of 16.6% as compared to $2.37bn of the same quarter prior year.
The company posted an OIBDA of 1.23bn for the second quarter as compared to $1.10bn of the same period last year.
MTS’ operating income was $754.6m for the quarter as compared to $650.5m of the same quarter in 2009.
For the quarter ended 30 June 2010, the company posted a net income of $354m, a decrease of 38.7% compared to $577.4m of the same period last year.
MTS president and CEO Mikhail Shamolin said the company’s revenue in the second quarter increased around 17% year over year to reach $2.8bn and also saw seasonal trends in rising voice and data usage, efficient contribution from sale of handsets and consumption of products like voice and data roaming and long distance.
MTS expects to raise its guidance to around 10% for 2010 due to continued macroeconomic improvement; impact of retail on revenue growth; and the impact of its recent acquisitions of Eurotel and Multiregion.