Saudi telecom operators have posted a combined profit of SAR 2,048 million for first quarter, which fell 12 percent below street forecasts of SAR 2,335 million.
Etihad Etisalat Co. (Mobily) suffered a loss of SAR 199 million during the quarter, compared to SAR 415 million profit it recorded in Q1-2014.
Meanwhile, results from Saudi Telecom Co. (STC) and Mobile Telecommunications Co. (Zain Saudi) beat market estimates.
|
Actual Profit vs Estimates (SAR mln) |
|||
|
Change |
Estimates |
Actual profit |
Company |
|
+12% |
2,241 |
2,504 |
STC |
|
-- |
415 |
(199) |
Mobily |
|
-- |
(321) |
(257) |
Zain |
|
(12%) |
2,335 |
2,048 |
Total |
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