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Saudi's Mobily Q3 Net Profit Rises 41 Pct to Record - ASHARQ AL-AWSAT English Archive
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RIYADH, (Reuters) – Mobily, Saudi Arabia’s second-biggest telecom operator, posted a better-than-expected 41-percent rise in quarterly profits on Sunday after cutting international networks costs and on higher broadband revenues.

Mobily, also known as Etihad Etisalat, made record net profit of 1.14 billion riyals ($303.5 million) in the three months to Sept. 30, up from 807 million a year earlier, it said in a statement.

Mobily, which competes with state-controlled Saudi Telecom 7010.SE and Zain Saudi Arabia, raised its net operating income during the third-quarter by 38 percent to 1.19 billion riyals while it was 29 percent above its level a year earlier during the second quarter at 940 million riyals.

Emirates Telecommunications is Mobily’s biggest shareholder with a 27.4 percent stake.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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