Al Jazeera Capital Sets Mobily Target at 74.8 Riyals
Al-Jazira Capital reported that United Telecom "Mobily" posted an net profit of 901 million riyals in Q2 2026, reflecting an 8.6% year-on-year increase and in line with their forecast of 894 million riyals. Revenues also rose by 5.2% to 5.08 billion riyals, supported by a 16.9% increase in subscription base, alongside continued strong operating performance. Al-Jazira Capital set the target stock price at 74.8 riyals and recommended increasing holdings, noting that the quarterly results mirror ongoing expansion through significant capital investments amounting to 18-20% of revenues, aimed at strengthening the company's position in business segments, wholesale sales, and advancing network services and the development of 5G network infrastructure.
Notice: This Is an AI-Generated Summary
Comments (0)