STC H1 profits beat forecasts

The Saudi stc Group recorded strong financial results during the first half of 2026, with revenues increasing by 3.8% to reach 40.11 billion Riyals. Gross profit rose by 5.3% to 19.6 billion Riyals, and operating profit grew by 7.8% to 7.77 billion Riyals. The company also reported a 6.3% increase in net profit after excluding non-recurring items, surpassing analysts' expectations for the second quarter by 4%. This improved financial performance reflects the strength and resilience of its business model, supported by ongoing expansion of its customer base, which reached 30.3 million mobile subscribers—up 4.8% year-over-year. The number of 5G towers increased to 12,120, and fiber-connected homes rose to 3.87 million. The company announced a dividend payout of 2.7 billion Riyals, equivalent to 0.55 Riyals per share, and continued to provide advanced digital services to support future growth, especially during the Hajj season.

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