Mobily sustains profit growth amid Q3 revenue slowdown

Mobily's results for the third quarter of 2026 showed a 4.5% increase in revenues, reaching approximately 5.1 billion riyals. This marks the lowest annual growth rate since the third quarter of 2023, supported by growth in the individual, carrier, and operator segments. While the number of mobile subscribers rose by more than 12%, this did not translate into a similar increase in revenues, as the business segment declined by 0.9%. Despite the slowdown in revenue growth, the company maintained profitability, with net profit exceeding expectations at 925 million riyals, although operating profit decreased due to higher depreciation and amortization expenses. Cash flows from operating activities remain strong, with continued investments in network and infrastructure development. However, the company's stock fell by 2.8% following the results. The price-to-earnings ratio stands at approximately 12.3 times, with a dividend yield of around 5.1%.

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