GO Telecom reports net loss of SAR67.6m in 1Q 2014

22 Apr 2014

Saudi Arabian fixed line and broadband operator Etihad Athleeb Telecom (GO Telecom) has published its interim results for the three months ended 31 March 2014, reporting a net loss of SAR67.69 million (USD18.05 million), a 9.83% decrease on the SAR66.44 million reported in 1Q13; the telco has attributed the negative development to lower operating income and an increase in operating expenses. Total operating revenue for the period under review decreased by 4.5% to SAR57.7 million, which was mainly attributed to a ‘continuous price decline in the residential broadband sector, as a result of increased competition and lack of strict regulatory control in the sector, in addition to the introduction of fibre-to-the-home (FTTH) services and the spread of mobile broadband services’.

Saudi Arabia, Etihad Atheeb (GO Telecom)