Turk Telekomunikasyon AS: Higher deferred tax income helped the bottomline
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Turk Telekom recorded TL1,171mn net income in 3Q22, higher than consensus est. of TL648mn and our est. of TL831mn.
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Turk Telekom’s EBITDA increased by 17.4% y/y to TL5.04bn in 3Q22, 5.9% above our estimate of TL4.76bn.
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We maintain our Outperform rating for Turk Telekom. However we favor Turkcell against Turk Telekom at current valuations
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