MegaFon Earnings Top Estimates on Rising Wireless Data Sales
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PJSC MegaFon, Russian billionaire Alisher Usmanov’s phone company, said second-quarter earnings rose 1.3 percent, beating analysts’ estimates, on higher revenue from wireless data services.
Operating income before depreciation and amortization rose to 34.7 billion rubles ($588 million), compared with an estimate of 33.8 billion rubles, the average of eight analysts’ predictions compiled by Bloomberg. Sales fell 0.7 percent to 76.1 billion rubles.