Wednesday 19 October 2011

Saudi Mobily Q3 profit misses forecasts | Reuters

Saudi Arabia's Etihad Etisalat (Mobily) posted a 7.6 percent increase in third-quarter profit, missing estimates as the telecoms operator sold fewer smart phone handsets and competition in data and international calling rose.

The company, an affiliate of UAE's Etisalat , made a net profit of 1.22 billion riyals, compared with a profit of 1.14 billion riyals in the same period a year ago.

Analysts polled by Reuters on average expected the firm to post a quarterly profit of 1.35 billion riyals.

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