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Saudi’s Mobily third-quarter profit beats forecast

29
Oct
2013

RIYADH (Reuters) – Etihad Etisalat (Mobily), Saudi Arabia’s No.2 telecom operator, beat forecasts with an 11.7 percent rise in third-quarter net profit on Tuesday, as revenue from corporate and wholesale customers grew. Mobily, an affiliate of the United Arab Emirates’ Etisalat, made a third-quarter net profit of 1.69 billion riyals, up from 1.51 billion riyals in the prior-year period. Analysts polled by Reuters on average forecast Mobily, which competes with Saudi Telecom Co and Zain Saudi, would make a quarterly profit of 1.65 billion riyals. …

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