Zain Saudi Q4 net loss widens
Riyadh, January 20, 2014
Telecom operator Zain Saudi reported a widening fourth-quarter loss on Monday, missing analyst expectations.
Saudi Arabia's No.3 mobile company, 37-percent owned by Kuwait's Zain, made a net loss of 462 million riyals ($123.2 million) in the three months to December 31. This compares with a net loss of 443 million riyals in the prior-year period.
Analysts on average forecast a net loss for the quarter of 375.7 million riyals in a Reuters poll.
Zain Saudi's full-year net loss for 2013 was 1.65 billion riyals. It made a net loss of 1.75 billion riyals a year earlier. - Reuters