Earnings Report /
Saudi Arabia

Solutions by STC: Strong revenue growth offsets higher opex

  • Revenue increased by 16.4% yoy (-6.8% qoq) to SAR 2.25bn and came higher than our estimates of SAR2.10bn

  • Core ICT service revenue increased by 20.8% yoy to cSAR1.23bn and represents 54% of the top-line in Q2 22

  • EBIT came in at SAR294mn, up 8.6% yoy (-6.1% qoq) marginally higher than our estimate of SAR288mn

Talha Nazr
SNB Capital
2 August 2022
Published bySNB Capital


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