April 21, 2014 / 2:45 PM / 4 years ago

Saudi telco Mobily Q1 net profit rises 4.5 pct, misses estimates

DUBAI, April 21 (Reuters) - Etihad Etisalat (Mobily), Saudi Arabia’s No.2 telecom operator, missed forecasts with a 4.5 percent rise in first-quarter net profit on Monday.

Mobily, an affiliate of the United Arab Emirates’ Etisalat , made a first-quarter net profit of 1.4 billion riyals ($373.3 million), up from 1.34 billion riyals in the prior-year period, it said in a bourse filing.

Analysts polled by Reuters on average forecast Mobily, which competes with the Gulf’s No.1 operator Saudi Telecom Co (STC) and Zain Saudi, would make a quarterly profit of 1.52 billion riyals.

$1 = 3.7503 Saudi Riyals Reporting by Matt Smith; Editing by David French

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