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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
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29/04/2025
China's state-run Sinopec said on Monday it had signed an agreement with a unit of Saudi Aramco to establish a joint venture company aimed at operating ports, transporting crude oil, and providing ot
Asharq Al Awsat
29/04/2025
Gulf Bank has officially released its Fifth Annual Sustainability Report for the year 2024, titled "From Vision to Execution", highlighting the Bank's advancements in sustainability in line with Kuwa
Kuwait Times
29/04/2025
In an interview with CNBC International, Shaikha Al-Bahar, Deputy Group Chief Executive Officer of National Bank of Kuwait (NBK) affirmed the Group's commitment to maintaining excellence and fosterin
Kuwait Times
29/04/2025
Borouge today announced a series of strategic asset expansion projects to accelerate its growth, contributing annually between $165 million and $200 million (AED600 million - AED730 million) in EBITD
Trade Arabia
29/04/2025
Saudi developer Emaar, The Economic City has signed final agreements with four local banks to reschedule SR3.39 billion ($904 million) in existing debt and secure a new credit facility.
In a
Arab News
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