FINANCIAL NEWS

Saudi Telecom Co. posts USD666mn revenue in Q1

09 May 2017

(MENAFN) Saudi Telecom Co. (STC) group revenue for the first quarter of the year increased to 5.4 percent to USD666.53mn, compared to the same period of 2016.

Additionally, the whole revenue for the period was USD3.346bn, compared to SR12.76bn in the same quarter of last year and SR12.01bn in Q4 of 2016.

Accordingly, the fiscal results made for the cited quarter of the year shows the efforts made to evolve, enhance and develop the firm’s plan and ops.

Moreover, net income for the period grew 21.3 percent compared to the immediate prior quarter as the firm managed to cut the cost of revenues by 4.3 percent.

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MENAFN0905201700450000ID1095462716

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