Turk Telekom and Turkcell posted impressive Q3 figures as Turkish consumers increased their spending on telecommunications.
Incumbent Turk Telekom saw revenues rise 5.6 percent year-on-year to €1.4 billion between July and September.
Meanwhile, profits reached €270 million – an increase of 77 percent.
Türk Telekom Group CEO Hakam Kanafani described the results as “robust”.
The number of fixed broadband connections has grown 2.4 percent to seven million over the last year while the number of mobile subscribers grew 5.4 percent to 13.2 million.
Crucially, the ARPU of both also increased by 3.4 percent and 5.9 percent respectively, while capex fell 6.5 percent to €247 million.
Turkcell recorded equally impressive figures.
Revenues rose by nine percent to €1.2 billion, while profit was up 6.3 percent to €243 million.
In its home market, the company’s mobile subscriber base grew to 35.2 million leading to a 34 percent increase in mobile broadband revenues and a six percent rise in revenues - to €980 million - overall.
As a result, CEO Sureyya Ciliv revealed the company was raising its full year 2012 expectations for revenue and EBITDA.
“We now expect revenue in the range of €4.4 billion and EBITDA in the range of €1.3 billion,” he said.