April 21, 2014 / 2:30 PM / 3 years ago

Saudi Telecom Q1 profit rises 54 pct

DUBAI, April 21 (Reuters) - Saudi Telecom Co (STC), the Gulf's No.1 telecom operator by market value, missed analyst estimates despite reporting a 54 percent jump in first-quarter profit on Monday.

The firm, which competes domestically with Etihad Etisalat (Mobily) and Zain Saudi, made a net profit of 2.39 billion riyals ($637.3 million) in the three months to March 31, up from 1.55 billion riyals in the prior-year period, it said in a bourse statement.

Analysts polled by Reuters on average forecast STC, which owns stakes in operators in the Gulf, Turkey, South Africa and Asia, would make a quarterly profit of 2.70 billion riyals. ($1 = 3.7503 Saudi Riyals) (Reporting by Matt Smith; Editing by David French)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below