Riyadh – The estimated net profits of United Electronics Company (eXtra) surged by 11.15% year-on-year (YoY) to SAR 93.86 million in the first quarter (Q1) of 2024 from SAR 84.44 million.

The company’s revenues hit SAR 1.58 billion in Q1-24, up 9.87% from SAR 1.43 billion during the January-March 2023 period, according to the income statements.

Meanwhile, the earnings per share (EPS) grew YoY to SAR 1.17 as of 31 March 2024 from SAR 1.06.

Quarterly, the Q1-24 net profits plunged by 25.55% from SAR 126.08 million in Q4-23, while the revenues increased by 1.31% from SAR 1.55 billion.

Last month, eXtra disbursed SAR 160 million in cash dividends for the second half (H2) of 2023.

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