Sunday, Oct 17, 2010
DUBAI (Zawya Dow Jones)--Saudi Arabia's Etihad Etisalat Co. (7020.SA), or Mobily, Sunday said third quarter net profit soared 41% to 1.13 billion Saudi riyals ($301 million), from SAR807 million in the year earlier.
The result surpassed the SAR973 million result analysts at EFG Hermes had predicted and the SAR807 million Shuaa Capital analysts had penciled in.
The kingdom's second-largest telecoms operator, in a statement on the Saudi Tadawul website, said revenues in the three month period rose 16% to SAR2.3 billion, from a year ago.
Net profit for the first nine months of the year surged 40% to SAR2.75 billion, from SAR1.96 billion a year ago, the company said.
The U.A.E.'s Emirates Telecommunications Corp. (ETISALAT.AD) owns 27.4% of Mobily.
Mobily shares closed trading Sunday up 0.5% at SAR55.25 in a broadly positive overall market.
-By Mirna Sleiman, Dow Jones Newswires; +9714 446-1698; mirna.sleiman@dowjones.com
Copyright (c) 2010 Dow Jones & Co.
(END) Dow Jones Newswires
17-10-10 1324GMT
