Stc Q1 profit exceeds forecasts
STC Group announced strong financial results for the first half of 2026, with revenue increasing by 3.8% to 40.11 billion riyals, gross profit rising by 5.3% to 19.6 billion riyals, and operating profit up by 7.8% to 7.77 billion riyals. Net profit also grew by 6.3% after excluding non-recurring items, while EBITDA increased by 5.5% to 12.96 billion riyals. The CEO noted that these results reflect the strength and resilience of the business model, alongside a growing customer base—mobile subscribers reached 30.3 million, the number of 5G towers increased to 12,120, and fiber-connected homes rose to 3.87 million. The company also decided to distribute a dividend of 0.55 riyals per share for the second quarter, totaling 2.7 billion riyals in dividends, while continuing investments in digital infrastructure and services for the visitors during the Hajj season.
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