EarningsQ2 2026 Earnings Report
MX:TKCN Q2 2026 EPS Results
Actual EPS$2.14
Consensus EPS―
Beat/Miss―
One Year Ago EPS$2.09
MX:TKCN Q2 2026 Revenue Results
Actual Revenue$26.78B
Expected Revenue$26.12B
Beat/MissBeat by +$660.69M
YoY Revenue Growth+15.36%
Earnings Announcement Details
QuarterQ2 2026
Date08/13/2026
TimeAfter Close
Conference CallThursday, August 13, 2026
MX:TKCN Upcoming Earnings
Turkcell Iletisim's next earnings date is estimated for November 5, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:TKCN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive operational and strategic picture: the company achieved real revenue growth and strong margins despite severe macro pressures, delivered robust subscriber gains and notable expansion across strategic growth areas (fibre, FWA, digital business services, data centers, and techfin). Key challenges include persistent high inflation, FX volatility and related reported FX losses, higher depreciation from 5G assets affecting near-term net income, and some segment-level pressures (Financell revenue decline and Paycell margin dilution). Management emphasized disciplined execution, conservative balance-sheet management, and long-term upside from data center and digital services, while indicating some ARPU recovery will materialize more clearly in 2027.Company Guidance
Real Revenue Growth Despite High Inflation
Group revenue of 71.8 billion TRY, up 2.5% year-over-year. Management emphasised this as real growth given inflation of ~32%, and reiterated unchanged guidance despite revising year-end inflation expectation to ~28%.
Strong Profitability
EBITDA of 30.0 billion TRY with an EBITDA margin of 41.8%, in line with full-year expectations. Net income was 5.2 billion TRY, supported by tax benefits (fixed asset revaluation and data center incentives) and improved contributions from equity-accounted investments.
Robust Mobile Subscriber Momentum and ARPU Expansion
Crossed 40 million total mobile subscribers for the first time. Postpaid base reached 32.5 million with 284k net postpaid additions in the quarter (2.4M over last 12 months) and postpaid now 81% of the mobile base. Monthly average mobile churn improved to 1.6%. Mobile ARPU (ex-M2M) increased 27% year-over-year to 448 TRY.
Fiber and FWA Momentum
Turkcell fiber reached 2.6 million subscribers with 31k net additions in the quarter (138k YoY). Residential fiber ARPU grew 37% YoY to 570 TRY, fiber churn improved to 1.1%, 88% of residential fiber on 12-month contracts, own-fiber served customers 80% (up 3pp YoY). Superbox (FWA) added 64k subs to 818k total and holds a 74% FWA market share.
Strong Digital Business Services and Data Center Growth
Digital business services revenue rose 33% YoY to 8.7 billion TRY. Data center & cloud revenue grew 10% YoY to 1.6 billion TRY and now represent ~2.3% of group revenues. Active IT capacity reached 54 MW; hyperscale Google Cloud region partnership under construction; system integration backlog ~16 billion TRY with 1.5k new contracts.
Techfin Traction (Paycell & Financell)
Techfin contributed ~6% of group revenue. Paycell revenue grew 22% YoY to 2.4 billion TRY; pay-later transaction volume +84% and POS volume +67%, total payment value ~39 billion TRY, 6.8M active users. Financell focused on portfolio quality: net interest margin improved from 4.5% to 7.8% and cost of risk at 3.4% (revenue down ~12% YoY due to disciplined portfolio management).
Solid Liquidity and Conservative Leverage
Cash and cash equivalents of 89 billion TRY at quarter-end. Net debt of 44 billion TRY and leverage at a low 0.4x, with liquidity covering remaining 5G license obligations and near-term maturities. Net FX position remains within management's +/- $1.5bn target range.
Focused CapEx Allocation and Renewable Investments
Operational CapEx to sales at 25% in Q2 (H1 23.2%), with 81% allocated to core business (5G rollout and fiber). Fiber passes expanded by 194k homes this quarter (total 6.7M home passes, 41% take-up). Renewable capacity increased via acquisition of a 12.1 MW solar plant (active solar generation 74.4 MW).
MX:TKCN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed