UPDATE: Mobile TeleSystems Reports Rise In Q2 Net Profit

Mobile TeleSystems MBT reported a rise in its net profit for the second quarter. Mobile TeleSystems' quarterly profit rose to $367 million, from $354 million, in the year-ago period. Its revenue climbed to $3.13 billion, from $2.77 billion. However, analysts were expecting profit of $380 million on revenue of $3.12 billion. Mobile TeleSystems' operating income before depreciation and amortization (OIBDA) surged to $1.30 billion, from $1.23 billion, in the year-ago period, versus analysts' estimates of $1.29 billion. Mobile TeleSystems' shares dropped 0.72% to close at $16.63 on Friday.