Saudi Telecom Company (STC)

Saudi Telecom Company, together with its subsidiaries, provides telecommunications, information, and media services in the Kingdom of Saudi Arabia and internationally. The company offers Internet services, as well as mobile and international telecommunications, broadband, and other related services; operates communications projects, and e-commerce and e-trading services; and transmits and processes information. It is also involved in electrical and communication networks business; and the wholesale and retail trade of fixed telecommunications equipment, electrical appliances, computer systems and devices, fixed and mobile telecommunication equipment, Internet equipment, advertising and publi... Detailed Description King Abdulaziz Complex Imam Mohammed Bin Saud Street Mursalat Area Riyadh, 11652 Saudi Arabia Founded in 1998 www.stc.com.sa Key Executives For Saudi Telecom Company Saudi Telecom Company does not have any Key Executives recorded. Saudi Telecom Company Key Developments Saudi Telecom Company Presents at Bloomberg Global Business Forum, Sep-26-2018 Sep 26 18 Saudi Telecom Company Presents at Bloomberg Global Business Forum, Sep-26-2018 . Saudi Telecom Company Reports Consolidated Earnings Result for the Second Quarter and First Half Ended June 30, 2018 Jul 30 18 Saudi Telecom Company reported consolidated earnings result for the second quarter and first half ended June 30, 2018. For the quarter, the company reported 1.1% rise in its services revenue, standing at SAR 13.182 billion during the second quarter of 2018. The company continues the comprehensive program to improve the operational efficiency and to work on costs optimization initiatives, that have led to an increase in the net profit by 3.7% in the second quarter of 2018 compared to the same quarter last year. Net profit was SAR 2,444 million compared to SAR 2,356 million a year ago. Operational profit was SAR 2,901 million compared to SAR 2,584 million a year ago. revenue increased by SAR 141 million increase, while cost of services decreased by SAR 60 million, which resulted in the SAR 201 million increase in Gross profit. The company confirmed to have preserved the level of its revenue at SAR 25.568 billion during the first half of this year. The company continues the comprehensive program to improve the operational efficiency and to work on costs optimization initiatives, that have led to an increase in the net profit by 2.9% for the six months of 2018 compared to the same period. Net profit was SAR 5,032 million compared to SAR 4,891 million a year ago. Operational profit was SAR 5,533 million compared to SAR 5,199 million a year ago. EPS was SAR 2.51 compared to SAR 2.45 a year ago. SAR 271 million decrease in Cost of revenues, while consolidated revenue was maintained, which resulted in the SAR 274 million increase in Gross profit.