20 Hrs
Source:
الاقتصادية
Zain Saudi profits rise 60 percent
Saudi Telecom Company Zain, the largest provider of telecommunications services, achieved a 60.6% increase in its net profit in the second quarter of 2026 compared to the same period last year, reaching 204 million riyals, surpassing the expected 151 million riyals. Its return to positive performance was driven by a 1.8% rise in gross profit supported by growth in 5G services, an improved advertising mix, and a 17.7% increase in operating profit due to lower amortization and depreciation expenses. The company also recorded a one-time income of 15 million riyals from the Comprehensive Service Fund, while financing costs decreased by 7% thanks to an improved debt structure. Despite a decline in mobile phone sales during the quarter, revenues remained stable at 2.65 billion riyals. Since the start of 2026, total capital spending has reached approximately 178 million riyals aimed at enhancing the customer experience, and earnings per share increased to 45 halalas. The company was established in 2008, with a market value of 10.5 billion riyals, and Zain Kuwait owns a 37% stake in it.
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