Saudi: stc profits hit $2.3 billion in 9 months

Saudi telecom giant ‘stc’ reported a 3.5-percent increase in its net profit for the first 9 months of 2021, compared to the same period last year, reaching SR8.7 billion ($2.32 billion). 

The company’s net profit in the third quarter alone of 2021 increased by 5.71 percent, reaching SR2.9 billion. stc attributed the increase during the third quarter of 2021 to the rise in revenues by and a decrease in operating expenses. 

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