Mobily Q3 net jumps 23pc, beating forecasts
Riyadh, October 20, 2012
Saudi's No 2 telecom company, Etihad Etisalat (Mobily), said on Saturday its third-quarter net profit jumped 23 per cent to 1.51 billion riyals ($403 million) over the same period of 2011, beating analyst forecasts.
The firm, an affiliate of UAE's Etisalat , attributed its performance to higher revenue from its data and business units.
Analysts polled by Reuters on average had forecast Mobily - which competes with the Gulf's No.1 operator Saudi Telecom Co and Zain Saudi, part-owned by Kuwait's Zain - would make a quarterly profit of 1.44 billion riyals. – Reuters
More IT & Telecommunications Stories
- Batelco wins key ISO certificates
- Global role for TRA Bahrain chief
- BlackBerry posts $4.4bn quarterly loss
- Huawei sees 4G revenue double to $4bn in 2014
- Govts must design hitech apps to woo citizens
- UAE to launch mobile number portability Sunday
- Batelco offers automatic bill payment
- Etisalat unveils business solutions for SMEs
- Top honours for Nawras female engineer
- Bahrain TRA showcases services at expo