Arabian Internet and Communications Services Company (solutions) SAR 1.27 billion in the first nine months (9M) of 2024, higher by 23.30% than SAR 1.03 billion in 9M-23.

The revenues amounted to SAR 8.33 billion as of 30 September 2024, marking a 1.97% year-on-year (YoY) rise from SAR 8.17 billion, according to the initial financial statements.

Earnings per share (EPS) climbed to SAR 10.67 in 9M-24 from SAR 8.66 in the year-ago period.

Financials for Q3-24

In the third quarter (Q3) of 2024, the telecom company recorded a 19.63% surge in net profit to SAR 463 million, compared to SAR 387 million in Q3-23.

Revenues dropped by 1.50% to SAR 2.75 billion in Q3-24 from SAR 2.79 billion a year earlier.

Quarter on quarter (QoQ), the Q3-24 net profits grew by 2.20% from the SAR 453 million generated in Q2-24, while the revenues inched down by 0.64% from SAR 2.77 billion.

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