Riyad Cap issues Q1 profit estimates for telecoms; STC to dip 4%

11/04/2017 Argaam

Riyad Capital has released its first-quarter net profit forecasts for the three Tadawul-listed Saudi telecom firms.

 

Saudi Telecom Co. (STC) is expected to report a 4 percent year-on-year (YoY) drop in net profit to SAR 2.285 billion for Q1-2017.

 

Etihad Etisalat Co. (Mobily) is set to post a net loss of SAR 48 million during first quarter compared to a net profit of SAR 17 million in the year-ago period.

 

Mobile Telecommunications Co. (Zain) is seen to narrow its loss to SAR 74 million from a net loss of SAR 250 million in the same period in 2016.

 

Profit Estimates

Company

Q1 2017 estimates (SAR mln)

YoY change

STC

2,285

(4%)

Mobily

(48)

--

Zain

(74)

--

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