STC posts healthy second quarter results

19 Jul 2012

Saudi Telecom Company (STC) has posted revenue of SAR14.6 billion (USD3.9 billion) for the second quarter ending 30 June, up 4.9% year-on-year. Operating income rose 13.5% to SAR3.2 billion while net income grew 6.6% to SAR2.4 billion. The strong results have come on the back of soaring demand for broadband services in Saudi Arabia, as well as increased sales from its domestic business and wholesale services, along with higher revenue from international operations. The telco, which remains 70%-owned by the Saudi government, has stakes in telecoms operators in a number of countries, including Bahrain, Indonesia, India, Jordan, Kuwait, Lebanon, South Africa and Turkey.

Saudi Arabia, Saudi Telecom Company (stc)