Arabian Internet and Communication Services Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags

Arabian Internet and Communication Services (TADAWUL:7202) Full Year 2023 Results

Key Financial Results

• Revenue: ر.س11.0b (up 25% from FY 2022).
• Net income: ر.س1.19b (up 13% from FY 2022).
• Profit margin: 11% (down from 12% in FY 2022). The decrease in margin was driven by higher expenses.
• EPS: ر.س10.02 (up from ر.س8.86 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Arabian Internet and Communication Services Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 10.0%.

Looking ahead, revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the IT industry in Asia.

Performance of the market in Saudi Arabia.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 1 warning sign for Arabian Internet and Communication Services you should know about.

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