GO profit surges 32% to SAR 62M profit in Q1 2025/26

Etihad Atheeb Telecommunication Co. (GO) posted a net profit of SAR 62 million in the first quarter ended June 30, 2025, compared with SAR 47 million in the year-earlier period.

The positive performance was driven by a growth in total revenue by 40% year-on-year (YoY) amounting to SAR 125 million. Enterprise segment revenue went up by 42% amounting to SAR 67 million, mainly due to higher sales resulting from the execution of projects with government entities and private sector companies.

Wholesale segment revenue rose by 66% YoY or SAR 67 million, driven by growth in revenue from voice interconnection and fiber optic services.

Meanwhile, the company recognized revenue from the subsidiary, Ejad Technology, for the current quarter, at SAR 33 million.

The revenue increase was partially offset by a rise in cost of revenue by SAR 93 million, an increase in expected credit losses on trade receivables by SAR 3.6 million, and a rise in general and administrative expenses by SAR 15 million, countered by an increase in other income by SAR 2.9 million.

The group also recorded the costs and expenses of its subsidiary, Ejad Technology, during the current quarter, amounting to SAR 20 million.

On a sequential basis, the first-quarter net earnings grew 5.1% from SAR 59 million in Q4 2024/25.

Shareholders’ equity, excluding minority interest, reached SAR 827 million as of June 30, 2025, compared to SAR 606 million in the same period last year.

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