Saudi Telecom Company (stc) has delivered solid results for the first half of 2026, recording a 3.8% jump in its revenue which soared to SAR40.11 billion ($10.7 billion), mainly driven by growth across its telecom and digital businesses.
Announcing the results for the six-month period ended June 30, 2026, stc said its gross profit increased 5.3% to SAR19.64 billion.
The operating profit climbed 7.8% to SAR7.77 billion and ebitda rose 5.5% to SAR12.97 billion, stated stc in a statement.
The company said first-half net profit increased 6.3% from a year earlier after excluding non-recurring items in both periods. It will distribute a second-quarter dividend of 0.55 riyals per share, representing a total payout of about SAR2.7 billion.
Commenting on the results, stc group CEO Eng. Olayan bin Mohammed Alwetaid said the financial results demonstrated strong financial and operational performance, alongside continued progress in executing the group’s strategic priorities.
"This sustained progress reflects the strength of the group’s business model, the resilience of its operations and its solid financial position, enabling it to successfully execute its long-term strategy and deliver sustainable value to shareholders," he stated.
The group delivered strong financial performance during the first half of 2026, with net profit increasing by 6.3% after excluding non-recurring items in both the current and corresponding periods of the previous year.
Alwetaid said the results reflected continued growth in the group's operations and customer base. Mobile subscribers in Saudi Arabia rose 4.8% year-on-year to 30.3 million, while fixed-line customers increased 3% to 6.1 million.
The company said it expanded its 5G network to 12,120 towers during the period, while the number of households connected to its fibre-optic network increased 5.2% to 3.87 million.
During the first half, stc signed an agreement with ROSHN Group to develop a neutral fibre-optic network for future phases of the Sedra community in Riyadh. It also extended a memorandum of understanding with HUMAIN to establish a joint venture through its subsidiary center3 and continued its partnership with AST SpaceMobile to develop direct-to-device satellite communications services.
The company said STC Bank continued to expand its customer base and deposits, while it launched "stc cloud", a sovereign cloud platform powered by Oracle Alloy, as part of its digital transformation strategy.
stc said its long-term credit ratings were reaffirmed at A+ with a stable outlook by S&P Global Ratings and Fitch Ratings, Aa3 with a stable outlook by Moody's Ratings, and AAA with a stable outlook by Tassnief.
