Mobily Net Profit Jumps 11.5% to $474.9 Million in H1 2026

RIYADH — Saudi telecom operator Mobily reported net profit of SAR 1.781 billion ($474.9 million) for the first half of 2026, up 11.5% year on year, as stronger performance across its consumer, enterprise and wholesale businesses lifted revenue above SAR 10 billion.

The company’s consolidated revenue increased 5.3% to SAR 10.120 billion ($2.6 billion) for the six months ended June 30, compared with SAR 9.606 billion in the same period last year.

Operating profit rose 12.9% to SAR 1.966 billion ($524.2 million), while basic earnings per share increased to SAR 2.32 ($0.62) from SAR 2.07 a year earlier.

The momentum continued into the second quarter, with revenue reaching SAR 5.080 billion ($1.3 billion), up 5.2% year on year. Quarterly net profit increased 8.6% to SAR 901 million ($240.2 million).

Earnings before depreciation, amortisation, Murabaha costs and Zakat rose 7.7% to SAR 1.963 billion ($523.4 million).

The consumer segment generated SAR 3.1 billion ($829 million) in revenue, up 3.2%, supported by updated fibre and 5G fixed-wireless offerings.

Mobily’s business division recorded stronger growth of 9.7%, with revenue reaching SAR 1.2 billion ($330.4 million) as the operator expanded advanced IT solutions.

The carriers and wholesale segment delivered the fastest growth, rising 10.9% to SAR 628 million ($167.4 million).

Mobily’s customer base also expanded, with mobile subscribers reaching 14.9 million and home fibre customers rising to 315,000.

The operator invested SAR 883 million ($235.4 million) in capital expenditure during the second quarter, primarily targeting fibre expansion, broader 5G coverage and data-centre infrastructure.

Net debt declined 4.8% to SAR 7.099 billion ($1.8 billion), strengthening the company’s financial position.

During the 2026 Hajj season, Mobily said it provided 100% 5G coverage across the Holy Sites following network expansion measures.

Following the results, the board approved a cash dividend of SAR 1.4 per share for the first half of 2026.