(MENAFN) Telecom Zain Saudi reported a narrower fourth-quarter loss, beating estimates as revenue increased.
Moreover, the firm has to make a quarterly profit since launching services in 2008 and has battled to compete against better-resourced rivals Saudi Telecom and Etihad Etisalat (Mobily).
The firm, 37-percent owned by Kuwait's Zain, made a net loss of USD36.00mn in the cited period, compared with a net loss of 291mn riyals in the last period.
Meanwhile, the company's overall subscriber base dropped 12 percent year-on-year to 10.9mn subscribers as of Dec.31, 2016.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.