GO widens six-month losses by 48%

Etihad Atheeb Telecommunication Co. (GO) widened net losses by 48.3% year-on-year (YoY) to SAR 52.69 million for the six-month period ending on Sept. 30, 2019, due to lower revenue and higher depreciation and amortization expenses.

The telecom operator widened Q2-2019/2020 net losses by 52.4% YoY to SAR 20.83 million, driven by higher depreciation and amortization expenses, and lower revenue.

When compared to the previous quarter, net losses shrank 34.6%.