30/07/2017 Argaam Exclusive
Saudi telecommunication companies’ aggregate Q2 profit of SAR 2.19 billion has missed consensus estimates of SAR 2.28 billion by 4 percent, data compiled by Argaam showed.
Saudi Telecom Co. (STC) posted net profit of SAR 2.377 billion in Q2 2017, missing forecasts of SAR 2.40 billion by 1.1 percent.
Etihad Etisalat Co. (Mobily) incurred net losses of SAR 189.6 million in Q2, compared to analyst forecasts of SAR 151.9 million in net losses.
Meanwhile, Mobile Telecommunication Co (Zain Saudi) generated net earnings of SAR 8.0 million, which fell shy of estimates of SAR 36.4 million by 78 percent.
| Company | 2017 - Q2 (a) | 2017 - Q2 (e) | Change |
| STC | 2,356.48 | 2,402.79 | (1.9 %) |
| ETIHAD ETISALAT | (189.66) | (151.93) | (24.8 %) |
| ZAIN KSA | 7.69 | 36.37 | (78.8 %) |
| Total | 2174.52 | 2287.22 | (4.9 %) |
At least 10 different brokerage firms issued estimates for local telco firms. Argaam has averaged their forecasts, which reached an estimate of SAR 2.28 billion
| Company | 2017 - Q2 (a) | 2017 - Q2 (e) | Most Accurate Research Company |
| STC | 2,356.48 | 2,363.60 | KASB Capital |
| ETIHAD ETISALAT | (189.66) | (178.00) | Albilad Capital |
| ZAIN KSA | 7.69 | 22.00 | Hermes |
| TASI | 12,259.60 | 42.55 | 0.35 % |
| STC | 38.10 | (0.25) | (0.65%) |
| ETIHAD ETISALAT | 52.80 | 0.10 | 0.19% |
| ZAIN KSA | 11.82 | (0.08) | (0.67%) |
| ATHEEB TELECOM | 119.00 | (2.20) | (1.82%) |
| SOLUTIONS | 331.60 | (3.20) | (0.97%) |
| ARAB SEA | 7.56 | (0.06) | (0.79%) |
| MIS | 169.80 | (0.60) | (0.36%) |
| ELM | 874.00 | 0.80 | 0.09% |
| 2P | 32.90 | 0.35 | 1.08% |
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