20 Hrs
Source:
الاقتصادية
Solutions reports 1.6% Q2 profit rise
The Arab Company for Internet Services and Communications "Solutions" achieved growth in its profits during the second quarter of 2026, with net profit increasing by 1.6% to reach 453 million SAR compared to 446 million SAR in the same period last year, representing a quarterly growth of 22.4%. The rise in gross profit by 20.1% to 788 million SAR and operating profit by 13.5% to 506 million SAR contributed to strengthening its results, despite an increase in operating expenses, higher revenue costs, and the impact of zakat and tax expenses on profits. The company also recorded a 14.6% increase in EBITDA profits, reaching 597 million SAR, driven by strong performance in communications and information technology services. Additionally, "Solutions" is collaborating with "Aramco" to develop supercomputers valued at 1.4 billion SAR, while the Capital Market Authority has approved a 100% increase in the company's capital stock.
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