Sri Lanka Telecom PLC Reports Improved Financial Performance in Q3 2024
The company achieved a net profit in Q3 2024, compared to a net loss in the same period last year. This positive trend continued for the nine-month period as well.
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Telecom Egypt Reports 5.59% Drop in Net Profit for the First Nine Months of 2024
Telecom Egypt reported a 5.59% YoY decline in consolidated net profit for the first nine months of 2024, totaling EGP 8.637 billion. Operating revenues rose to EGP 58.43 billion. The company’s standalone profit also decreased during the same period, reflecting a challenging year for the telecom operator.
Saudi Arabia’s Public Investment Fund Completes $1.03 Billion Sale of Stake in Saudi Telecom Company
The Public Investment Fund (PIF) of Saudi Arabia completed the sale of 100 million shares in Saudi Telecom Company (stc), raising $1.03 billion. The oversubscribed offering marks the largest accelerated bookbuild in Saudi Arabia and the MENA region. PIF retains 62% of stc’s shares as part of its strategic capital recycling plan.
Space42 Reports Strong Nine-Month Performance Fueled by Bayanat-Yahsat Merger
Space42, the UAE-based space tech company, reported a 17.5% increase in profit for the first nine months of 2024, totaling $118.8 million. The company’s performance was boosted by the merger with Bayanat and Yahsat. Despite a revenue decline, Space42 remains focused on profitable growth and innovation in tech solutions.
Mobile Telecommunications Company K.S.C.P. Reports Third-Quarter and Nine-Month Earnings for 2024
Mobile Telecommunications Company K.S.C.P. reported third-quarter sales of KWD 500.61 million, a rise from KWD 485.11 million last year, with net income increasing to KWD 54.12 million. For the nine months, sales grew to KWD 1,445.46 million, but net income dropped to KWD 135.53 million.
Zain Reports Solid Growth Across Markets in Q3 and 9M 2024 Driven by Digital Transformation and Fintech Expansion
Zain reports steady revenue growth in Q3 and 9M 2024, driven by digital transformation, fintech expansion, and investments in 5G. The company highlights strong growth in digital services and data revenue across its operating regions.
Dialog Axiata PLC Reports Q3 and Nine-Month Earnings Results for 2024
Dialog Axiata PLC reported its earnings for Q3 and the nine months ending September 30, 2024. Q3 sales decreased to LKR 42.83 billion, while net income rose to LKR 4.50 billion. For the nine months, sales were LKR 125.38 billion, with net income dropping to LKR 5.69 billion.
Beyon Reports Strong Financial Growth in First Nine Months of 2024
Beyon, Bahrain’s telecom giant, reports a 1% rise in net profit to BD56.2 million and a 6% revenue increase in the first nine months of 2024. Comprehensive income surged by 22%, driven by favorable investment gains. EBITDA margin remained steady at 40% amidst consistent growth.
Egypt’s Telecommunications Sector Sees Significant Growth and Global Recognition
Egypt’s telecommunications sector has experienced significant growth, with its GDP contribution increasing from 3.2 percent to 5.8 percent. The outsourcing sector expanded by 54 percent, and Egypt now ranks first in Africa for internet speed. The country also improved its digital transformation and cybersecurity rankings.
Robi Reports Decline in Q3 Revenue Due to Internet Shutdown and Floods
Robi reported a 5% revenue decline in Q3 2024, impacted by an internet shutdown and floods. Revenue reached 2,474.4 crore taka, with voice revenue up 3.7% but data revenue down 15.5%. Despite challenges, profit after tax grew significantly, reflecting strong cost efficiency measures.