Financial Results : stc H1 2023 profits up 4% to SAR 6.11 bln; Q2 at SAR 3 bln

stc H1 2023 profits up 4% to SAR 6.11 bln; Q2 at SAR 3 bln

30/07/2023 Argaam Exclusive

View other reports

Telecom operator stc posted SAR 6.11 billion in net profit for the first half of 2023, an increase of 4% year-on-year (YoY) from SAR 5.87 billion.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 33,749.32 36,506.30 8.2 %
Gross Income 18,324.48 18,249.26 (0.4 %)
Operating Income 7,543.43 7,011.49 (7.1 %)
Net Income 5,872.45 6,117.12 4.2 %
Average Shares 5,000.00 5,000.00 -
EPS (Riyals) 1.17 1.22 4.2 %

Earnings per share amounted to SAR 1.23 in H1 2023, compared to SAR 1.18 in H1 2022.

 

The YoY H1 profit rise was mainly driven by the jump in revenues of SAR 2.75 billion, against a SAR 2.59 billion cost of revenues, thus bringing gross profit to SAR 164 million.

 

Meanwhile, finance income rose by SAR 268 million, while operating expenses increased by SAR 398 million as a result of stc’s continued investment in new domains in line with its strategy. Zakat and income tax expenses climbed by SAR 50 million.

 

The second-quarter net profit after Zakat and tax grew 6% to SAR 3 billion, from SAR 2.83 billion in Q2 2022.

 

Sequentially, stc reported a 3.25% profit fall from SAR 3.1 billion in Q1 2023.



Current Quarter Comparison (M)

Compared With The
Item Q2 2022 Q2 2023 Change‬
Revenues 16,829.96 18,326.98 8.9 %
Gross Income 9,174.08 9,015.43 (1.7 %)
Operating Income 3,719.65 3,280.50 (11.8 %)
Net Income 2,837.35 3,008.45 6.0 %
Average Shares 5,000.00 5,000.00 -
EPS (Riyals) 0.57 0.60 6.0 %

Total shareholders’ equity, after minority interest, reached SAR 75.49 billion as of June 30, 2023, compared to SAR 71.78 billion a year earlier.

View More Financial Results

 

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.