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FINANCIAL NEWS
UAE’s Etisalat Q3 profit falls 1% to USD468m
19 Oct 2011
(MENAFN) Etisalat, the UAE telecoms operator, said that in the third quarter, profit dropped 1 percent to USD468 million from USD473 million recorded in 2010’s same quarter, reported Emirates 24/7.
The company added that the decline resulted from an increase in operating costs, which grew 22.3 percent in the quarter compared with last year’s same period.
It also said that in the period, revenues went up by 8.6 percent to reach USD2.18 billion compared with USD2.01 billion recorded in 2010.
It is worth noting that last month, the company introduced its long-term evolution (LTE) high speed network.
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