Archives

Home

Media Center

Financial News

17-04-14

Zain Saudi reports USD106 m net loss in Q1

(MENAFN) Zain Saudi posted a net loss in the first quarter of the current year compared to the same period 2013 as it cut costs and data revenue surged, according to Arabian Business. Net loss of Saudi Arabia's No.3 mobile company was estimated at USD84.8 million during the quarter compared to USD106.11 million loss a year earlier. Analysts expect its net loss to hit USD106.64 million on average. Earnings before interest, taxation, depreciation and amortization (EBITDA) reached USD 79.98 million, or 45 percent higher.