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Zain Saudi Q1 net loss narrows, beats estimates
April 16, 2014 / 7:31 AM / 4 years ago

Zain Saudi Q1 net loss narrows, beats estimates

DUBAI, April 16 (Reuters) - Telecom operator Zain Saudi reported a narrowing first-quarter loss on Wednesday, beating analyst forecasts.

Saudi Arabia’s No.3 mobile company, 37-percent owned by Kuwait’s Zain, made a net loss of 318 million riyals ($84.8 million) in the three months to March 31. This compares with a net loss of 398 million riyals in the prior-year period.

Analysts polled by Reuters on average forecast Zain Saudi would make a quarterly loss of 400 million riyals. ($1 = 3.7503 Saudi Riyals) (Reporting by Matt Smith; Editing by David French)

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