TeliaSonera Q2 Profits Down

By The Moscow Times

July 20, 2011

HELSINKI — TeliaSonera reported Wednesday that second-quarter sales and income missed estimates with lower profits from holdings in Eurasia, Turkey and Russia.

Second-quarter net income dropped to 3.86 billion kronor ($592 million), from 5.24 billion kronor a year ago, Stockholm-based TeliaSonera said. Revenue declined 4.3 percent to 25.9 billion kronor.

TeliaSonera affiliate Turkcell Iletisim Hizmetleri booked a loss in Belarus and had "weaker operational performance" in Turkey. Income from MegaFon in Russia also declined, and currency fluctuations offset sales gains in Eurasia. Fixed voice services in the Nordic and Baltic regions and Sweden continued to decline.

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue