Arab Press

بالشعب و للشعب
Friday, Aug 22, 2025

Saudi Telecom’s Q3 profit jumps 5.7 per cent on decreased expenses

Saudi Telecom’s Q3 profit jumps 5.7 per cent on decreased expenses

Saudi Telecom Company, the biggest telecoms operator in the kingdom by market value, reported a 5.7 per cent year-on-year jump in third-quarter net profit, driven by a fall in operating expenses in the three months to September 30.
Net profit increased to 2.9 billion Saudi riyals ($773 million) in the July-September period, the company said in a statement to Saudi Arabia's Tadawul stock exchange, where its shares trade. It was up 3.7 per cent on a quarterly basis

Revenue for the quarter rose 5.7 per cent on an annual basis to 15.7bn riyals, almost 854m riyals more than the same period last year. However, it was 164m riyals less than the revenue it reported in the second quarter of the year.

Operating expenses fell by 334m riyals due to lower selling and marketing expenses, which dropped 283m riyals, and general and administration expenses by 136m riyals, STC said.

Other expenses worth 28m riyals were booked during the current quarter, compared with 338m riyals in the prior year period, it said. This was mainly due to the booking of other net gains worth 195m riyals and a reduction in the cost of its early retirement programme, which came to 90m riyals.

STC is majority owned by the kingdom's sovereign wealth fund – Public Investment Fund – which holds a 70 per cent stake in the company. The Riyadh-based telecoms operator has about 13,500 employees in Saudi Arabia and more than 19,000 across the group.

The company’s operating profit dropped more than 7 per cent annually to 3.2bn riyals in the third quarter.

STC proposed an interim dividend of 1 riyal per share, equating to more than 1.9bn riyals, to its shareholders for the third quarter.

The company is also rolling out a fifth-generation network across the kingdom. By February this year, it had installed its 5G network in more than 47 cities.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Russia Formally Recognizes Taliban Government in Afghanistan
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Germany Seeks Taliban Deal to Deport Afghan Migrants
Emirates Airline Expands Market Share with New $20 Million Campaign
Robots Compete in Football Tournament in China Amid Injuries
×