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Zain Saudi Q4 net loss widens, misses estimates
January 20, 2014 / 1:40 PM / 4 years ago

Zain Saudi Q4 net loss widens, misses estimates

Jan 20 (Reuters) - Telecom operator Zain Saudi reported a widening fourth-quarter loss on Monday, missing analyst expectations.

Saudi Arabia’s No.3 mobile company, 37-percent owned by Kuwait’s Zain, made a net loss of 462 million riyals ($123.2 million) in the three months to Dec. 31. This compares with a net loss of 443 million riyals in the prior-year period.

Analysts on average forecast a net loss for the quarter of 375.7 million riyals in a Reuters poll.

Zain Saudi’s full-year net loss for 2013 was 1.65 billion riyals. It made a net loss of 1.75 billion riyals a year earlier. ($1 = 3.7505 Saudi riyals) (Reporting by Matt Smith; Editing by David French)

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