Friday 11 February 2011

Etisalat's Q4 profit beats forecasts | Reuters

Emirates Telecommunications (Etisalat) (ETEL.AD), the UAE firm bidding for a controlling stake in Kuwait's Zain (ZAIN.KW), posted a small but unexpected rise in fourth-quarter net profit on Thursday.

Etisalat's fourth-quarter net profit rose to 2.03 billion dirhams ($553 million), compared with 1.99 billion dirhams a year earlier, according to Reuters calculations.

Analysts polled by Reuters had forecast the Arab world's largest telecom operator by market value would report a quarterly net profit of 1.74 billion.

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