Saturday, 17 November 2018 12:56 GMT
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Saudi telecom firms report healthy results in Q3



(MENAFN) Telecom companies in Saudi Arabia were reported to have recorded strong performances during the third quarter of this year, exceeding expectations.

Saudi telecom companies recorded a boost in revenue and gross profits, regardless of a drop in expat workers as well as lack of material rise in data prices with an expected recovery in VoIP calling.

In a report, Al Rajhi Capital explained the recovery to have been driven by various elements, including strong handset sales and a jump in foreign tourists.

The report added "on the whole, while there were positives (unwillingness to go for pricing competition and trends of gradual stabilization in revenues), the core performance appears broadly in-line with expectations."

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Saudi telecom firms report healthy results in Q3

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