GO Telecom reports a 23% improvement in revenues in FY2016/17

25 Apr 2017

Saudi Arabian fixed line and broadband operator Etihad Atheeb Telecom (GO Telecom) has published its financial results for the twelve months ended 31 March 2017 (FY2016/17), announcing a net loss of SAR138.62 million (USD36.9 million); the telco blamed the loss on an increase in its operating revenues and other income, in addition to a decrease in operating expenses. However, according to the company’s press release, the net loss represents a 6.4% improvement on the SAR148.1 million loss reported in FY2015/16. Further, GO Telecom’s revenues increased by 23.0% (or SAR78.7 million) year-on-year from SAR343.0 million to SAR421.7 million. GO Telecom highlighted that revenues generated by its consumer operations reached SAR74.5 million, up 140.8% y-o-y, as a result of the introduction of new high speed services (offering download speeds of 200Mbps or more) via fibre-to-the-home (FTTH) and 4G LTE technologies.

Saudi Arabia, Etihad Atheeb (GO Telecom)