Turkcell Iletisim Hizmetleri A.S. reported third‑quarter 2025 revenue of TRY 59.5 billion, up 11.2% year‑over‑year, and EBITDA of TRY 26.2 billion, a 10.5% increase. The EBITDA margin settled at 43.9%, slightly below the 44.2% recorded in Q2 2025, reflecting higher selling, general and administrative expenses as the company scales its data‑center and cloud operations. Net income fell 71.6% to TRY 5.4 billion, a decline largely attributable to a one‑time gain from the sale of Ukrainian operations in Q3 2024 that inflated the prior‑year base.
The quarter’s revenue growth was driven by a 10.8% rise in the Turkcell Türkiye consumer segment, a 17.1% increase in corporate revenues—largely from a 50.6% jump in Data Center & Cloud services—and a 20.0% rise in Techfin revenue. Wholesale revenues grew 9.5%. The data‑center and cloud segment, which now accounts for a larger share of total revenue, delivered the strongest contribution to EBITDA, offsetting margin pressure in the legacy mobile and fixed‑broadband businesses.
Compared with Q2 2025, revenue rose from TRY 53 billion to TRY 59.5 billion, a QoQ gain of 12.3%. EBITDA increased from TRY 23 billion to TRY 26.2 billion, while the margin contracted from 44.2% to 43.9%. The decline in margin is consistent with the company’s investment in new data‑center capacity and the cost of acquiring 5G spectrum, which are expected to pay off in the medium term.
Turkcell raised its full‑year 2025 guidance, projecting revenue growth of roughly 10% and data‑center and cloud revenue growth of 43%. Management also set an EBITDA margin target of 42–43% and an operational capital‑expenditure‑to‑sales ratio of 23%. The upward revision signals confidence that the company’s diversified portfolio—mobile, fixed broadband, tech‑fin, and data‑center services—will continue to generate robust top‑line growth while maintaining profitability targets, even as macro‑economic headwinds persist.
The company’s acquisition of 160 MHz of 5G spectrum in the October 16, 2025 tender positions it to launch 5G services in 2026. The spectrum win, combined with the expansion of data‑center capacity, underpins Turkcell’s strategy to become a diversified technology platform and to capture higher‑margin digital services in the Turkish market.
Management highlighted that “robust demand across mobile, fixed broadband, tech‑fin, and data‑center segments, driven by higher ARPU and subscriber expansion, underpins our confidence in sustaining momentum.” Analysts noted that the earnings beat expectations for revenue and EBITDA, and the guidance lift was viewed positively, reflecting the company’s ability to navigate inflationary pressures while investing in growth areas.
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