Turkcell Iletisim Hizmetleri A.S. Q2 2026 Earnings Recap

Turkcell's Q2 results were broadly in line with expectations, reflected in a flat market reaction. Revenue growth continued amid high inflation, supported by disciplined pricing and steady subscriber additions, while margin stability maintained profitability.

Key Takeaways

• Group revenue grew 2.5% year-over-year to 71.8 billion Turkish liras, delivering real growth despite 32% inflation.
• EBITDA margin remained stable at 41.8%, with EBITDA reaching 30 billion Turkish liras and net income at 5.2 billion Turkish liras.
• Mobile postpaid subscribers increased by 284 thousand, crossing 40 million total mobile customers; mobile ARPU rose 27% year-over-year (excluding M2M).
• Fiber business added 31 thousand net subscribers, with residential fiber ARPU up 37% year-over-year and churn improving to 1.1%.
• Digital segments showed growth: Techfin revenues up 7%, digital business services rose 33%, data center and cloud grew 10%, and fixed wireless access (Superbox) added 64 thousand subscribers.