Listed telecom, IT firms’ revenues reach SR19.3bn in Q2

August 13, 2014 2:29 am

Financial report reveals that total revenues of the listed Saudi telecom and IT firms hit SR19.34bn in the second quarter of the current year whereas revenue costs reached SR8.42bn thus bringing gross revenues margin to SR10.91bn, or 56% of the overall revenues of the sector, Arab News reported. Meanwhile, the telecom and IT sector posted operating profits of SR4.05bn in Q2, or 21% of total revenues. After deduction of expenses, non-operating revenues, and taxes, net profits of the sector stood at SR3.84bn, or 20% of the quarterly revenues, the report, filed by Al-Riyadh daily, said.