Turkcell Iletisim(TKC)
$4.78-0.08 (-1.65%)
TKC
Turkcell Iletisim earnings date
$4.78
At close:-0.08 (-1.65%)
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Turkcell Iletisim (TKC) Q3 2026 Earnings Report
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TKC Q3 2026 EPS Results
- Actual EPS
- $0.15
- Consensus EPS
- ―
- Beat/Miss
- ―
- One Year Ago EPS
- $0.15
TKC Q3 2026 Revenue Results
- Actual Revenue
- $1.71B
- Expected Revenue
- $1.61B
- Beat/Miss
- Beat by +$107.46M
- YoY Revenue Growth
- +17.46%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/09/2026
- Time
- During Market Hours
- Conference Call
- Monday, November 9, 2026
TKC Upcoming Earnings
Turkcell Iletisim's next earnings date is estimated for February 12, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
TKC Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive, with robust revenue growth, record or near-record operating performance, improving margins, subscriber gains, lower churn, expanding digital and fintech businesses, strong liquidity, and continued investment in 5G, fiber, data centers, cloud, AI, and renewable energy. The main challenges were slower data center and cloud demand due to RAM and memory constraints and geopolitical uncertainty, FX losses and elevated hedging costs, higher net debt related to major investments, and some delayed CapEx projects. Management nevertheless expressed confidence in full-year guidance, balance sheet flexibility, and the company's long-term strategic investments.
Company Guidance
Management said it remains confident in achieving its full year real revenue growth and EBITDA margin guidance, with operational CapEx to sales expected to remain below the full year guidance of 25%; assuming inflation remains in line with our expectations, we anticipate an acceleration in real ARPU growth over the coming quarters, while data center and cloud revenue is expected to follow a more gradual revenue growth trajectory this year. The data center business is expected to reach 50% additional megawatts of additional capacity within 7 years period, with the first module of the Google Cloud facilities scheduled for delivery in 2028, and renewable capacity reaching 300 megawatts is expected to cover more than 50% of total energy consumption. Management said it most probably does not need additional funding for 2026, may start preparation for the 2028 redemption of USD 500 million, and expects year-end net debt-to-EBITDA to remain below 1x, most probably ending up in 0.7 or 0.75 or something like that.
- Strong Consolidated Revenue and ProfitabilityThird-quarter consolidated revenue reached TRY 82 billion, up 6.2% year-on-year in real terms. EBITDA margin increased to 44.2%, compared with 43.9% in the same quarter last year, while net income totaled TRY 6.7 billion. Management said the results reinforce confidence in achieving full-year real revenue growth and EBITDA margin guidance.
- Turkcell Turkiye and Consumer Revenue MomentumTurkcell Turkiye revenue increased 5.1% year-on-year. Consumer revenues returned to positive growth, supported by pricing actions and increasingly rational market dynamics.
- Robust Mobile Subscriber Growth and Lower ChurnTurkcell added 579,000 net mobile subscribers in the quarter, including 701,000 postpaid net additions, and added 2.6 million postpaid subscribers over the last 12 months. Mobile churn declined to 1.6% from 2.6% a year ago. Quarterly mobile number portability volumes were below 2.3 million, compared with 5 million per quarter in 2025.
- Mobile ARPU Growth and Pricing ActionsMobile ARPU excluding M2M increased 28% year-on-year to TRY 512. Management said targeted pricing actions are expected to increasingly translate into ARPU growth as postpaid contracts are renewed and, assuming inflation remains in line with expectations, real ARPU growth is anticipated to accelerate over the coming quarters.
- 5G Network LeadershipTurkcell launched 5G in Turkiye on April 1 and said it is delivering the highest 5G speeds. The company continued expanding its 5G site footprint and cited its extensive 5G spectrum portfolio and network capabilities as competitive advantages.
- Superbox Fixed Wireless Access ExpansionSuperbox added 101,000 net subscribers in the quarter, with record-high gross additions. Its market share reached an all-time high of 75%, and the subscriber base is rapidly approaching 1 million.
- Fiber Subscriber and Infrastructure GrowthTurkcell added 39,000 fiber subscribers in the third quarter and 143,000 over the last 12 months, bringing the total fiber subscriber base to 2.7 million. The company added 242,000 new home passes in the quarter and 574,000 in the first nine months, reaching 6.9 million home passes across 33 cities while maintaining a 41% take-up rate.
- Higher-Value Fiber Customer MixThe share of customers served through Turkcell's own fiber infrastructure increased to 81%, up 4 percentage points year-on-year. Subscribers on plans with speeds of 1,000 megabits per second and above increased from 11% to 38% year-on-year, while residential fiber ARPU grew 34% year-on-year to TRY 623.
- TV+ Subscriber and Engagement GrowthTV+ added 148,000 net subscribers across its OTT and IPTV platforms. Management attributed the performance to a richer content portfolio and strategic partnerships, while OTT viewing time more than doubled year-on-year.
- Renewable Energy Expansion and SavingsTurkcell launched a 16-megawatt solar power plant in Ankara. Management stated that active solar capacity reached 90.8 million megawatts and total installed capacity reached 175.4 megawatts. During the first nine months of 2026, the solar portfolio generated TRY 286 million in OpEx savings. Separately, management said the company currently has around 100 megawatts of operational solar and wind capacity covering 20% of total electricity consumption, with another 84.6 megawatts awaiting regulatory approvals. Once total renewable capacity reaches 300 megawatts and is fully operational, it is expected to cover more than 50% of total energy consumption, including data centers.
- Digital Business Services Revenue GrowthDigital Business Services revenue reached TRY 10.5 billion, up 65% year-on-year and representing nearly 13% of group revenue. Large-scale project renewals contributed significantly, while management said customer demand remained robust across the digital solutions portfolio.
- Digital Infrastructure and AI InvestmentTurkcell had 54 megawatts of active IT capacity across four data center locations. The company has invested TRY 628 million to date in data center and hyperscale infrastructure, is progressing construction of hyperscale facilities in Ankara for Google Cloud's Turkiye region, and is advancing GPU-based cloud and next-generation artificial intelligence infrastructure.
- System Integration Backlog GrowthTurkcell secured 1,393 new contracts in the third quarter, bringing its system integration backlog to TRY 21.6 billion.
- Paycell and Techfin ExpansionPaycell revenue increased 23% year-on-year to TRY 2.9 billion, with nongroup revenues accounting for 81% of the total. Pay-later transaction volumes grew 54%, POS transaction volumes increased 94%, and POS revenue reached an all-time high. Paycell's active user base reached 7.1 million. Financell revenue grew 3% quarter-on-quarter in real terms, its loan portfolio reached TRY 10.7 billion, net interest margin was 7.7%, and it held a 43% market share by number of loans.
- Financell Growth OpportunitiesManagement said the increase in the device price limit for 12-month installment plans from TRY 20,000 to TRY 40,000 creates further growth opportunities in the fourth quarter. Financell also has 16.3 million preapproved credit customers.
- Improved Financial Income and TOGG ContributionNet financial income excluding FX loss reached a positive TRY 2.1 billion, representing a 3.5-fold increase compared with the same period last year. TOGG's impact on group net income improved by TRY 367 million year-on-year, and Turkcell said TOGG continued to make encouraging operational progress.
- Disciplined Capital Expenditure and LiquidityOperational CapEx-to-sales was 22.2% in the third quarter and 22.8% for the first nine months, both below the full-year guidance of 25%. Turkcell allocated 82% of operational CapEx to mobile and fixed infrastructure. The company ended the quarter with TRY 99 billion in cash and said it currently most probably does not need additional funding for 2026.
- Improved Leverage and Balance Sheet FlexibilityNet debt-to-EBITDA declined by 0.31x quarter-on-quarter and remained comfortably below peer levels. Management said the pro forma net debt-to-EBITDA ratio after the headquarters acquisition would remain comfortably below 0.45x, and estimated that year-end leverage after planned cash outflows would remain below 1x, potentially ending at 0.7x to 0.75x.
- Headquarters Acquisition and Strategic InvestmentTurkcell paid USD 400 million including VAT for its new headquarters, which has a gross area of 83,000 square meters and includes 33,000 square meters of office space. Management said the property was acquired at a 4% discount to its appraised value, will serve as a technology and innovation hub, and is intended to bring teams together. Current rental expenses are around TRY 300 million.
- Increased TOGG Ownership and EV Market PositionTurkcell agreed to acquire an additional 11% stake in TOGG, increasing its ownership from 23% to 34% upon completion. Management said the transaction includes no commitment to provide additional funding to TOGG. TOGG has more than 130,000 cars on the roads and reached a 47% share of electric passenger car sales in October. A further model is expected next year.
- Global Technology LeadershipTurkcell's CEO was appointed Chair of the GSMA Technology Group and reelected to the GSMA Board. Management said these roles strengthen the company's voice in 5G, 6G, artificial intelligence, and next-generation networks.
- Data Center Expansion PipelineFor the Google partnership, Turkcell is establishing three additional data centers, with management stating that the project could add 50% additional megawatts of data center capacity within a seven-year period. The first module is scheduled for delivery in 2028, and management identified data center operations as a potential candidate for future strategic partnerships or an IPO.
TKC Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 12, 2027 | 2026 (Q4) | ―- | 0.13 | ― | ― |
| Nov 09, 2026 | 2026 (Q3) | ―0.15 | 0.15 | 4.76% (+0.01) | |
| Aug 13, 2026 | 2026 (Q2) | ―0.13 | 0.12 | 2.44% (+0.00) | |
| May 11, 2026 | 2026 (Q1) | ―0.12 | 0.09 | 28.57% (+0.03) | |
| Mar 05, 2026 | 2025 (Q4) | ―0.13 | 0.01 | 814.29% (+0.11) | |
| Nov 06, 2025 | 2025 (Q3) | ―0.15 | 0.37 | -60.38% (-0.22) | |
| Aug 13, 2025 | 2025 (Q2) | ―0.12 | 0.01 | 720.00% (+0.11) | |
| May 09, 2025 | 2025 (Q1) | ―0.09 | 0.02 | 468.75% (+0.07) | |
| Feb 27, 2025 | 2024 (Q4) | ―0.01 | -0.03 | 145.16% (+0.04) | |
| Nov 07, 2024 | 2024 (Q3) | ―0.37 | 0.22 | 69.41% (+0.15) |
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
