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Telecom & tech brief
Sunday, 1 November 2026 · Jumada I 21, 1448 AH |
Telecom, data centres and technology Monitoring window: 07:20 on 25 Oct to 07:20 on 1 Nov, Riyadh time
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Telecom & tech in Saudi Arabia · 2 min read
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stc posts record nine-month revenue of 60.1bn riyals, up 3.7% |
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The bottom line
Watchstc KSA revenue grew just 1% while Mobily and Zain KSA posted faster profit growth.
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Markets
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Brent crude
117.64 $/barrel ▲ 2.4%
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Gold
3,874.40 $/oz ▼ 3.5%
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Saudi market index (TASI)
9,921.50 points
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S&P 500
7,580.07 points ▼ 1.8%
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30 Oct close (Saudi market index (TASI): 29 Oct)
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Situation
Riyadh airport: Partially open: domestic from T1, national carriers' international from T2 (Al-Monitor, updated Sun 1 Nov)
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The lead story
stc posts record 60.1bn riyals nine-month revenue
What happened stc's revenue rose 3.7% and operating profit 4.1% to 11.3bn riyals, while net profit was about 10.92bn riyals, up 2.6% excluding non-recurring items. It declared 0.55 riyals per share for Q3, bringing nine-month distributions to 8.2bn riyals, and 5G towers grew 31.5%.
Why it matters Subsidiaries' revenue accelerated 18.5% in Q3 while stc KSA grew 1%, showing where the sector leader's growth now comes from.
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◆ Sector leaders (2)
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◆ Regulation (2)
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◆ Industry & market (2)
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Listed Saudi telecoms' nine-month revenue reaches 83.42bn riyals
Mobily's revenue grew 5.07% to 15.19bn riyals and profit 7.68% to 2.71bn riyals; Zain KSA's profit jumped 45% to 541m riyals, while combined net profit fell 2.07% to 14.17bn riyals.
Why it matters: stc holds about 72% of sector revenue, while Mobily is growing revenue and profit faster.
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◆ Saudi Arabia: security & major events
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◆ Worth reading
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◆ On the radar
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◆ Sun 1 Nov: OPEC+ monthly meeting on oil output levels OPEC
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For this brief we read 102 stories and chose 9.
Ijaz selects and summarizes the news with AI and can get things wrong. Check the source before relying on a story. Report any error to hello@ijaz.ai.
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