Saudi Arabia’s top two telecom operators will show the rewards of their efforts to cut costs and lure customers to more costly contracts when they post results later this month.
Saudi Telecom Co (STC) and Etihad Etisalat (Mobily) dominate an increasingly saturated home market and are having to get smarter to drive growth. Both are trying to move users on to more lucrative contracts and consume more profitable data services, but earnings growth is likely to have been sluggish in the most recent three months.
STC’s fourth-quarter profit will rise by a slim 1.4 percent to 2.37 billion Saudi riyals ($630 million), according to the average forecast of analysts polled by Reuters, while Mobily’s will likely increase 5.1 per cent to 1.78 billion riyals.
Top Saudi telcos eke out Q4 profit gains | GulfNews.com
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