The aggregate net profit of all Tadawul-listed telecom operators came to SAR 1.5 billion in Q2 2016, missing average analyst forecasts of SAR 2.1 billion by 29 percent, data compiled by Argaam showed.
Saudi Telecom Co. (STC), which reported SAR 1.8 billion net profit in the second quarter of 2016, fell 22 percent short of estimates at SAR 2.3 billion.
Etihad Etisalat Co.’s (Mobily) Q2 net profit of SAR 18.8 million was 47 percent below forecasts of SAR 35.2 million.
Also, Mobile Telecommunications Co.’s (Zain KSA) second quarter net loss was 43 percent above analysts’ estimates of a net loss of SAR 329 million.
|
Actual vs. Estimate – Q2-2016 (SAR mln) |
|||
|
Company |
Average Estimate |
Actual Profit |
Difference |
|
STC |
2,392.5 |
1865.0 |
(22% ) |
|
Zain |
(230.0) |
(329.0) |
(43% ) |
|
Mobily |
35.2 |
18.8 |
( 47% ) |
|
Total |
2,197.7 |
1554.8 |
( 29% ) |
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