Stock Analysis

Mobile Telecommunications Company Saudi Arabia Second Quarter 2024 Earnings: Beats Expectations

Simply Wall St

Published July 30, 2024

Mobile Telecommunications Company Saudi Arabia (TADAWUL:7030) Second Quarter 2024 Results

Key Financial Results

Revenue: ر.س2.55b (up 6.7% from 2Q 2023).
Net income: ر.س105.2m (down 15% from 2Q 2023).
Profit margin: 4.1% (down from 5.2% in 2Q 2023). The decrease in margin was driven by higher expenses.
EPS: ر.س0.12 (down from ر.س0.14 in 2Q 2023).

SASE:7030 Earnings and Revenue Growth July 30th 2024

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

Mobile Telecommunications Company Saudi Arabia Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 13%.

Looking ahead, revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Wireless Telecom industry in Asia.

Performance of the market in Saudi Arabia.

The company's shares are down 2.1% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 3 warning signs for Mobile Telecommunications Company Saudi Arabia (of which 1 is concerning!) you should know about.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com