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STC Profits Drop 5% in Q2
Saudi Telecom Company (STC) recorded a decline in its net profits by 5.23% during the second quarter of 2026, with profits amounting to 3.62 billion Riyals compared to 3.82 billion Riyals in the same period last year. This decline was due to higher financing costs and lower financing revenues, as well as recording Zakat and income tax expenses of 49 million Riyals, offset by a previous positive impact. Despite the profit decrease, revenues increased by 3.7% to reach 20.17 billion Riyals, and the company achieved semi-annual profits of 7.32 billion Riyals, with revenues for the first half rising by 3.75%.
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