VimpelCom Q2 Profit Climbs, Despite Lower Revenues - Quick Facts

(RTTNews) - VimpelCom Ltd. (VIP), a provider of telecommunications services, on Wednesday reported higher profit in its second quarter, despite a slight decline in revenues.

For the second quarter, net income attributable to VimpelCom shareholders increased 17 percent to $573 million from last year's $488 million. Basic earnings per share grew 10 percent to $0.33 from $0.30 last year.

Total operating revenues were $5.72 billion, slightly lower than prior year's $5.75 billion. Organically, revenues increased 1 percent.

Earnings before interest, tax, depreciation and amortization or EBITDA dropped 2 percent to $2.4 billion, impacted by forex, MTR cuts in Italy and one-off charges EBITDA margin was 42.4 percent, lower than last year's 43.2 percent.

Total mobile subscriber base increased 5 percent from last year to 215 million