STC Q2 profits fall 5% amid 20.1bn riyal revenues

Saudi Telecom Company (STC) recorded a 5.23% decrease in its net profit in the second quarter of 2026, reaching 3.62 billion riyals compared to 3.82 billion riyals in the same period of the previous year, due to increased financing costs, reduced financing revenues, and higher zakat and income tax expenses. Despite this, revenues rose by 3.7% to 20.17 billion riyals, and the first half of 2026 generated revenues exceeding 40.1 billion riyals, a 3.75% increase, while its net profits decreased by 2% compared to the same period last year.