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Saudi Telecom Qtrly Profits Drop
Saudi Telecom Companies Listed on the Stock Exchange Report Slight Decline in Quarterly Profits in Q2 of 2026 The Saudi telecom companies listed on the stock exchange recorded a slight decrease in quarterly profits during the second quarter of 2026. The largest company, STC, experienced a 5.2% decline in profits, reaching 3.623 billion riyals compared to the same period last year. Nevertheless, total revenues increased to approximately 27.9 billion riyals, a year-on-year growth of 3.6%. In the first half of the year, revenues exceeded 55.5 billion riyals, an increase of 3.59%. These results are attributed to the rising profits of Mobily and Zain Saudi Arabia, despite the decline in STC's profits. The financial results showed growth in both revenues and half-year profits, with STC continuing to dominate the sector, holding an estimated 72.2% of total revenue.
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