MTS Posts Strong Rise In Q4 Net Profit

Mobile TeleSystems MBT reported a surge in its fourth-quarter net profit. MTS' quarterly net profit climbed to $393.5 million, from $156 million in the year-ago period, and versus analysts' estimates of $372.54 million. Its operating income before depreciation and amortization (OIBDA) climbed to $1.28 billion from $1.15 billion, versus analysts' estimates of $1.24 billion. MTS' revenue fell 0.7% to $2.98 billion from $3.00 billion. MTS shares closed at $18.06 on Friday.