stc says 5G towers reach 7,300 in 2022, sees 500 more this year

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Telecom operator stc said that the number of 5G towers reached more than 7,300 by the end of 2022, and expects to add an additional 500 towers during 2023, as well as 1,000 colocation sites for 5G network.

The company also said, in its 2022 earnings call, that the enterprise business unit saw revenue growth of 8.9% by the end of last year, driven by the group’s keeping pace with the rapid technology development and digital transformation in the Kingdom. Meanwhile, the commercial unit’s revenue rose 6.7%, backed by the revenue growth of mobile and residential segments by 7.9% and 0.9%, in a row.

Furthermore, the carrier and wholesale unit generated positive results, as its revenue increased by 6%, as national and international revenues grew by 8.3% and 5.1%, respectively, it added.

The telco also noted that the fiber-to-the-home (FTTH) subscribers base rose by 1.5%, while fixed wireless access (FWA) subscriber base increased by 20.2%. Working lines increased by 6.6%.

stc reported a net profit of SAR 12.2 billion for 2022, a rise of 8% from SAR 11.3 billion in 2021. The fourth-quarter net profit grew 6% to SAR 2.8 billion from SAR 2.6 billion in Q4 2021, according to data available with Argaam.