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FINANCIAL NEWS
Saudi Telecom reports USD520m profit in Q3
21 Oct 2012
(MENAFN) Saudi Telecom Co (STC) posted a 25 percent increase in quarterly profits on stronger growth in broadband and business sector services, Reuters reported.
The company said it made USD520 million net profit during the third quarter, up from a year earlier.
STC pushed demand for broadband in recent quarters, through offering bundle packages to woo customers back from rival operators Etihad Etisalat (Mobily) and Zain Saudi.
STC is the largest Gulf telecom operator by market value, with operations across the Muslim world from Indonesia to Turkey.
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