saudi telecom net income drops 271
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Saudi Telecom net income drops 27.1%

Arab Today, arab today

Arab Today, arab today Saudi Telecom net income drops 27.1%

Saudi Telecom net income drops 27.1%
Dubai - Arab Today

Saudi Telecom Co. (STC) missed estimates as it reported a 27.1 percent fall in second-quarter profit on Tuesday, extending an earnings slump as operating expenses rose.
STC had reported falling profits in six of the preceding seven quarters, stalling an improvement in its bottom line that had been sparked by the operator trimming its international ambitions and refocusing on its lucrative home market.
That slump continued in the second quarter as the former monopoly made a net profit of SR1.87 billion ($499 million) in the three months to June 30, compared with a profit of SR2.56 billion in the prior-year period, according to a bourse statement.
Four analysts polled by Reuters had on average forecast STC, which owns stakes in operators in the Gulf, Turkey and Asia, would make a quarterly profit of SR2.37 billion.
Explaining the poorer performance, it cited a SR563 million increase in operating expenses as sales and marketing costs, as well as general and administrative expenses, rose. Depreciation and amortization costs also rose.
Profits were also dragged down by the company booking SR278 million in losses from investments, compared with gains of 7 million the previous year.

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi telecom net income drops 271 saudi telecom net income drops 271

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi telecom net income drops 271 saudi telecom net income drops 271

 



GMT 14:30 2017 Sunday ,22 October

Abe coalition wins resounding victory in Japan vote

GMT 09:44 2017 Tuesday ,17 October

Morocco arrests 11 suspects linked to ISIS

GMT 13:09 2015 Tuesday ,09 June

Slaven Bilic returns to West Ham as manager

GMT 16:04 2017 Saturday ,30 September

Got a yacht? Proposed French tax break makes waves

GMT 13:06 2016 Saturday ,31 December

Syrian passport trade becomes unlikely cash cow

GMT 04:47 2017 Wednesday ,30 August

Mark Zuckerberg welcomes second daughter in Facebook

GMT 00:59 2014 Saturday ,07 June

January 19 - February 17

GMT 10:53 2017 Wednesday ,05 July

AU Summit gives priority to youth empowerment

GMT 17:26 2017 Wednesday ,15 February

Russian jets in ‘unsafe’ encounters with destroyer
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday