- RIYADH: Saudi Arabia’s Etihad Etisalat (Mobily) reported a 40 percent rise in its first-quarter net profit, coming in just below the average analyst forecast.
The wireless carrier made a net profit of SR998 million in ($266 million) the three months to March 31, up from SR714 million a year earlier, it said in a statement.
Eight analysts surveyed by Reuters had expected Mobily to report, on average, around SR1 billion for the first-quarter.
Revenues rose by 25 percent to SR4.48 billion in the quarter, while earnings per share was SR1.43 after SR1.02 in the same quarter a year ago.
Emirates Telecommunications (Etisalat) is Mobily’s largest shareholder.