Etihad Etisalat Company (Mobily)'s quarterly profits exceeded expectations, jumping by 40.5% on an annual basis during the third quarter of 2023 to 524 million riyals ($140 million), while average expectations indicated achieving profits worth 440.3 million riyals.
The company, which is 28% owned by the Emirates Telecommunications Corporation, said in a disclosure today, Sunday, on the main Saudi stock market’s Tadawul website, that this jump in quarterly profits came thanks to a 7.1% increase in revenues to 4.1 billion riyals ($1.09 billion), as this is mainly due to... This led to revenue growth in all sectors of the company, supported by business sector growth and an increase in the customer base.
The company's profits during the first nine months of 2023 amounted to 1.49 billion riyals ($396 million), a growth of 41.4% on an annual basis, according to the announced data.
