Saudi Arabia’s listed telecommunications companies reported strong financial performance over the first nine months of 2025, driven by rapid digital transformation, expanding infrastructure services, and surging demand for next-generation technologies. Combined sector revenues reached SAR 80.46 billion ($21.45 billion), while net profits grew 5.72% to SAR 14.46 billion ($3.86 billion), according to official disclosures.
The Kingdom’s four listed operators—Saudi Telecom Company (stc), Mobily (Etihad Etisalat), Zain KSA and Etihad GO Telecom—benefited from rising adoption of 5G, cloud computing, IoT and digital services across the country.
stc dominated sector results, contributing roughly 80% of total profits. The operator recorded SAR 11.58 billion in earnings, up 3.08% year-on-year. Mobily posted the fastest profit growth, with net earnings rising 18.15% to SAR 2.51 billion, supported by higher revenues and tighter cost controls. Zain KSA ranked second in growth, achieving a 15.84% increase with profits reaching SAR 373 million, driven by lower operating expenses and improved provisioning.
Industry research from Mordor Intelligence estimates the Saudi mobile communications market at $26.97 billion in 2025, expected to surge to $37.19 billion by 2030, a CAGR of 6.64%—highlighting sustained long-term growth.
Quarterly performance showed mixed trends. Sector analysts noted a profit dip at stc—down 11.54% year-on-year in Q3—which weighed on overall quarterly results. Still, Mobily grew 10.5% in the quarter and Zain KSA posted a modest 2% rise. Total quarterly revenues increased 4.6%, reaching SAR 26.86 billion, supported by continued demand for digital and infrastructure-based services.
Experts say the Saudi telecom sector is well positioned for further expansion, driven by Vision 2030 digital initiatives, cloud and data center investments, cybersecurity adoption, and rapid enterprise uptake of AI-driven solutions. However, analysts emphasize that operators must diversify further into financial services, entertainment, and emerging technologies to maintain competitiveness.
