Saudi Telecom Company (STC), the Gulf's No 1 telecom operator by market value, reported a flat third-quarter profit on Monday, beating estimates.

The firm, which competes domestically with Etihad Etisalat (Mobily) and Zain Saudi, made a net profit of SR3.37 billion ($898 million) in the three months to September 30, down from SR3.39 billion in the prior-year period.

Analysts polled by Reuters on average forecast STC, which own stakes in operators in the Gulf, Turkey, South Africa and Asia, would make a quarterly profit of SR2.93 billion. - Reuters