DUBAI: Saudi Telecom Co. (STC), the Gulf's No.1 telecoms operator, reported a 6.7 percent rise in second-quarter profit yesterday, beating analysts' estimates.
It attributed the profit growth to an increase in its domestic broadband, business services and wholesales services sales, as well as higher revenue from international operations.
The former monopoly made a net profit of SR 2.41 billion in the three months to June 30, up from SR 2.26 billion in the year-earlier period, it said in a bourse statement.
The telco said in a separate statement it would pay a dividend of SR 0.5 a share for the second quarter.
STC posts 6.7% rise in Q2 profit
