stc says enterprise unit revenue grew 29.3% in Q2, positive contribution from consumer business

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stc said the enterprise business unit (EBU) achieved a 29.3% increase in revenue in the second quarter of 2021, thanks to the company’s ability to provide innovative products and services that meet the needs of the public and private sectors.

In a presentation detailing the Q2 2021 financials, the telecom operator said that the consumer business unit (CBU) contributed positively to the second-quarter figures, as a result of a 3.4% growth in operating lines and a 6.1% rise in fixed wireless access subscribers, in addition to higher demand for fiber optic services, resulting in a 20.8% increase in the subscriber base.

Revenues of the wholesale business unit (WBU) increased in Q2 by 5.5% as a result of the company's investments in infrastructure, which began to show a positive impact on the unit’s results.

More than 4,000 5G towers have been deployed in 47 cities, stc said, adding that the next phase will be deploying 1,800 to 2,500 towers in 71 new cities.

stc reported a net profit after Zakat and tax of SAR 5.773 billion for the first half of 2021, a rise of 2% from SAR 5.637 billion in the year-ago period. Q2 net profit stood at SAR 2.821 billion, according to data compiled by Argaam.