Shares in Turkish telecoms group Türk Telekom rose more than 8% on Wednesday midday after the company reported better-than-expected Q3 net profit and hiked its margin guidance. The shares were up 10% later during the day.
Türk Telekom posted a net profit of TL 10.24 billion in the quarter, 66% above market expectations, according to brokerage Global Menkul Değerler.
Net income was up 157.6% year-on-year, the company said on Tuesday, announcing its financial results.
"Q3'25 has truly marked its special place in Türk Telekom’s history. First, we have successfully renewed and extended the fixed line services concession agreement; second, we finalized our preparations for the 5G auction, which has been held on October 16 and concluded in big wins on our side; and last but certainly not the least, we delivered an extraordinarily strong set of operational and financial results," said Türk Telekom CEO Ebubekir Şahin.
Şahin, ex-chief of Radio and Television Supreme Council (RTÜK), was appointed as chief executive last month, as former CEO Ümit Önal took over as head of Türkiye’s newly-formed cybersecurity directorate.
"I am truly honoured to have taken over the CEO role at Türk Telekom, a pioneering tech and consumer giant in Türkiye and a big family run by a distinguished leadership team. I will join my esteemed colleagues to move Türk Telekom ahead in a new era, which is set to be driven by strong digitalization and growth," Şahin added.
The company also forecast its 2025 consolidated EBITDA margin at 41.5%, up from a previous estimate of 41%.
"We expect the increased operational profitability and better-than-expected results to have a positive impact on the stock performance," Global Menkul Değerler said.
The stock is among the top performers on the main Turkish stock exchange this year.
