New Street: MTS (Buy): Q220 results - Strong performance continues to justify positive outlook
MTS has reported a very strong set of Q220 results relative to expectations. Not only that, the company continues to outperform the market which has seen its market share rise to the highest level seen since we began covering the company (2005).Mobile Telesystems is a provider of mobile cellular communications services in the Russian Federation, Ukraine, Uzbekistan and Turkmenistan to consumers and corporate customers, employing technology based primarily on Global System for Mobile Communications (GSM). Co. had a mobile subscriber base of around 102.5 million (77.3 million in Russia, 20.4 million in Ukraine, 2.1 million in Turkmenistan, 1.6 million in Uzbekistan and 1.1 million in Armenia). In addition to standard voice services, Co. provides improved services, including voice mail, short message service, general packet radio service, and various SMS- and GPRS-based information and entertainment services.
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