Competition in the UAE and higher operating expenses resulted in Etisalat reporting its third consecutive decline in quarterly profit.
The UAE telecommunications company reported lower revenue in its home market, amid competition from rival du, although global operations have grown.
Shares in Etisalat fell beneath the Dh10 mark yesterday, after the company said its third-quarter profit amounted to Dh1.72 billion (US$468 million), a decline of 1 per cent on the same period last year. The operator failed to increase its UAE mobile-subscriber base, reporting 7.5 million customers. That was level with the figure reported in its second-quarter results, and a decline on its 7.8 million customers reported in the same period a year ago.
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