FINANCIAL NEWS

Saudi- Mobily net profit increases 11% in Q1

21 Apr 2013

(MENAFN) Saudi Arabia’s Mobily posted an 11-percent growth in its first quarter net profit, netting USD357 million, reported Arabian Business.

The telecom company attributed the growth to a rise in data streaming, and an increase in smartphones sales.

Mobily raked in USD1.5 billion in revenue for the first quarter, rising from USD1.3 billion a year earlier.

It’s worth mentioning that the fierce competition between operators has led to lower prices, despite the rise in instant messaging services, which operators fear is replacing traditional messaging.

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