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14/02/2018 10:29 AST
Saudi Arabia's Etihad Etisalat (Mobily), the country's second-largest telecommunications operator, reported a widening quarterly loss on Thursday, partly blaming it on the introduction of internet calls and a decline in its customer base.
Net losses more than doubled to 181.7 million riyal ($48.45 million) in the three months to December 31 from a loss of 70.2 million riyals a year earlier, it said in a statement to the Saudi bourse.
Revenue fell 2.8 percent to 2.83 billion riyals.
The results were in line with estimates from SICO Bahrain and NCB Capital.
Mobily linked its widening loss to the decline in revenue, impacted by a drop in the number of customers which it said was happening across the sector. It did not say how many customers it had lost in the period.
Mobily also said the unblocking of most VoIP applications had impacted revenue.
Saudi Arabia lifted in September 2017 a ban on online voice and video call services such as Microsoft's Skype and Facebook's WhatsApp.
Mobily, an affiliate of the United Arab Emirates' Etisalat , competes with Saudi Telecom (STC) and Zain Saudi. ($1 = 3.7503 riyals)
Reuters
26/03/2018
PRINCE Abdullah Bin Bandar, acting Emir of Makkah Province, and Eng. Maziad Alharbi, chief technology officer of Mobily, signed a strategic partnership agreement at the headquarters of the governorat
Saudi Gazette
21/03/2018
ETIHAD Etisalat 'Mobily' in cooperation with Ericsson are preparing an IoT world program to be the first of its kind in the Kingdom that aims to create an interactive platform between university stud
Saudi Gazette
04/03/2018
Etihad Etisalat (Mobily), a leading telecom services operator in Saudi Arabia, has signed an agreement with Nokia Company to launch 5G tests for the first time in the kingdom.
The duo is c
Trade Arabia
06/02/2025
Saudi utility giant ACWA Power has signed two agreements with Aramco to accelerate the deployment of renewable energy projects and evaluate the performance of vanadium flow batteries in the Kingdom's
Arab News
05/02/2025
Al Rajhi Bank, a pioneer in innovative banking solutions in Saudi Arabia, has announced a strategic partnership with RATL Technology, the owner of Muhide fintech platform, to digitally empower and fi
Saudi Gazette
14/09/2024
RIYADH: Saudi master developer Emaar The Economic City's SR8.7 billion ($2.32 billion) capital optimization plan is a "strategic response" to its current financial challenges, according to its CEO. <
Saudi Gazette
12/09/2024
Saudi wheat flour producer Arabian Mills for Food Products Co. has set its final initial public offering price at SR66 ($17.59) per share on the Tadawul main market. During the book-building proces
Arab News
04/05/2018
SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.
Saudi Gazette
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