Saudi telecom operator Etihad Etisalat (Mobily) has received a buy rating from United Securities after delivering solid financial results for 2025.
The company reported a 7.9% increase in revenue and an 11.6% rise in net income for the year, reflecting improved operational performance and margin expansion. United Securities subsequently raised its price target for Mobily to 72 Saudi riyals, citing a stronger growth and margin mix supported by infrastructure investments and expanding wholesale revenues.
Fourth-quarter results reinforced the positive outlook. Revenue climbed 10.4% year-on-year to 5.2 billion riyals, exceeding United Securities’ forecast by approximately 2.2%. Net income for the quarter declined slightly by 2.7% to 953 million riyals but still surpassed expectations by 10.6%, suggesting cost efficiencies or financing factors performed better than projected.
Analysts pointed to the company’s diversified revenue base and continued investment in network infrastructure as key drivers supporting medium-term growth sustainability.
