Zain KSA posts $98.6m loss in Q2
Operator continues to narrow its losses, year on year
Zain Saudi Arabia posted a net loss of SAR370m ($98.6m) for the second quarter of the year. This marked a slight improvement on the same quarter last year, when the company made a loss of SAR394m.
The telco's revenues reached SAR1.7bn ($455m) in Q2, a rise of 9%, year on year, driven mainly by subscriber acquisitions.
Zain Saudi Arabia decreased its financing costs by 21% to reach SAR174m in the second quarter, compared to SAR220m in same quarter last year.
The telco said that it also minimised its "first level maintenance" costs after signing two new contracts with Ericsson and Huawei.