20 Hrs
Source:
الاقتصادية
Second quarter net profit rises 1.6%
The Arab Company for Internet and Communications Services "Solutions" achieved a profit growth in the second quarter of 2026, with net profit rising to 453 million riyals, representing a year-over-year increase of 1.6% and a quarter-over-quarter growth of 22.4%. This was supported by increased revenues, which reached 338.6 million riyals, and improved operational profitability, despite higher operational expenses and a decline in other gains. Additionally, EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased by 14.6%, driven by continued strong performance in telecommunications and information technology services, resulting in positive financial outcomes despite cost pressures. The Saudi Capital Market Authority approved a 100% increase in the company’s capital as part of its efforts to enhance growth and expansion.
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