Saudi Telecom Co (STC), the Gulf's No.1 telecom operator, reported a 25 percent jump in third-quarter profit, missing market expectations.
The increase in net profit was because of growth in broadband and business sector services as well as higher revenue from international operations, Saudi Telecom said on Saturday.
The former monopoly made a net profit of 1.95 billion riyals ($520 million) in the three months to Sept. 30, compared with a forecast for 2.42 billion in a Reuters poll.
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