RIYADH: According to a statement on Tadawul, Saudi Telecom Co. reported quarterly profits that beyond analyst projections in the first quarter of 2026, demonstrating ongoing resilience in the company’s operational performance amid competitive pressures in the telecom sector.
Net profit above Bloomberg’s average analyst estimate of SR3.27 billion, coming in at about SR3.7 billion ($986.48 million), a 1.3 percent rise over the same period last year. Additionally, revenues exceeded projections, totaling SR19.9 billion as opposed to SR19.7 billion, which was the company’s greatest quarterly revenue since 2003.
The company’s capacity to sustain its margins, bolstered by expansion in data services and digital solutions as well as the ongoing contribution of business units and subsidiaries to outcomes, is demonstrated by exceeding profitability forecasts.
The telecom behemoth credited its expansion to greater profitability from subsidiaries as well as higher revenues from the customer unit, carriers, and operators. Because Stc is one of the biggest listed businesses on Tadawul and has a significant market share, its results are a significant indicator of the performance of the Saudi telecom industry.
A cash dividend payment of SR2.7 billion for the first quarter of 2026 was approved by the company’s board of directors. With a 62 percent stake in the business, the Public Investment Fund is one of the largest shareholders.
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