The combined first-quarter net profit of Saudi-listed telecom operators (SAR 2.14 billion) fell 12 percent below the average consensus estimate of SAR 2.42 billion, data compiled by Argaam showed.
Mobile Telecommunications Company Saudi Arabia (Zain Saudi), which narrowed its losses in Q1 to SAR 250 million, beat analysts’ forecasts by 16 percent.
However, Etihad Etisalat Co. (Mobily) and Saudi Telecom Co. (STC) missed estimates by 59 percent and 9 percent, respectively.
|
Q1/16 Actual Profit vs. Estimates (SAR mln) |
|||
|
Difference (%) |
Estimates |
Profit |
Company |
|
(9%) |
2599.6 |
2375.0 |
STC |
|
+16% |
(215.2) |
(250.0) |
Zain |
|
(59%) |
41.2 |
17.0 |
Mobily |
|
(12%) |
2425.6 |
2142.0 |
Total |
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