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Mobily profit up 22% in Q2 2012

Operator sees revenue and profit up in Q2 from strong data revenue growth

Mobily says that growth in data revenues, smartphone sales and its business sector drove growth in Q2.
Mobily says that growth in data revenues, smartphone sales and its business sector drove growth in Q2.

Mobily (Etihad Etisalat) has posted a 22% rise in profits for the second quarter of 2012 compared to the same period last year.

The Saudi telecom operator, part of the Etisalat group, saw net profits of SR 1.42 billion ($3.78m)compared to SR 1.16 billion for Q2 2011. The results also marked an 18% rise from the first quarter.

Revenues were up 11%, to SR 5.68bn ($1.5bn) for Q2. That figure was up 13% from Q1 2012 revenue of SR 5.01bn.

The company attributed the growth to a rise in data revenue, which accounted for 25% of Q2 revenue, and an increase in its business sector operations and smartphone sales.