Mobily beats analysts’ expectations in Q4

Mobily has reported an 11 per cent rise in its fourth quarter profits to SAR1.9 billion (US$501 million), beating most analysts’ expectations.

Revenue also rose, by 17 per cent to SAR6.77 billion, compared to SAR5.80 billion a year earlier.

The operator said that its revenues and profits were boosted by a 41 per cent increase in mobile data usage, while the number of customers roaming on its network grew by a quarter thanks to the annual Hajj season.

For the full year, profits rose by 18 per cent to SAR6 billion.