Etihad Atheeb Telecommunication Co. (GO) widened net losses by 48.3% year-on-year (YoY) to SAR 52.69 million for the six-month period ending on Sept. 30, 2019, due to lower revenue and higher depreciation and amortization expenses.
The telecom operator widened Q2-2019/2020 net losses by 52.4% YoY to 20.83 million, driven by higher depreciation and amortization expenses, and lower revenue.
| Item | 6m 2018 | 6m 2019 | Change |
|---|---|---|---|
| Revenues | 213.48 | 183.93 | (13.8 %) |
| Gross Income | 63.11 | 81.91 | 29.8 % |
| Operating Income | (57.92) | (44.55) | 23.1 % |
| Net Income | (35.54) | (52.69) | (48.3 %) |
| Average Shares | 29.62 | 29.62 | - |
| EPS (Riyals) | (1.20) | (1.78) | (48.3 %) |
When compared to the previous quarter, net losses shrank 34.6%.
| Item | Q2 2018 | Q2 2019 | Change |
|---|---|---|---|
| Revenues | 108.81 | 86.84 | (20.2 %) |
| Gross Income | 30.68 | 42.23 | 37.6 % |
| Operating Income | (25.02) | (18.60) | 25.6 % |
| Net Income | (13.67) | (20.83) | (52.4 %) |
| Average Shares | 29.62 | 29.62 | - |
| EPS (Riyals) | (0.46) | (0.70) | (52.4 %) |
| Item | Q1 2019 | Q2 2019 | Change |
|---|---|---|---|
| Revenues | 97.10 | 86.84 | (10.6 %) |
| Gross Income | 39.68 | 42.23 | 6.4 % |
| Operating Income | (25.95) | (18.60) | 28.3 % |
| Net Income | (31.86) | (20.83) | 34.6 % |
| Average Shares | 29.62 | 29.62 | - |
| EPS (Riyals) | (1.08) | (0.70) | 34.6 % |
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