{"id":88107,"date":"2024-07-24T00:00:00","date_gmt":"2024-07-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/"},"modified":"2024-07-24T00:00:00","modified_gmt":"2024-07-24T00:00:00","slug":"stc-mobily-and-first-milling-report-2q-earnings","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/","title":{"rendered":"Stc, Mobily and First Milling report 2Q earnings"},"content":{"rendered":"

Saudi Telecom Group (Stc) reported SAR 3.3 bn in net income in 2Q 2024<\/strong>, up 9.8% y-o-y on the back of higher revenues and lower operating costs and zakat and tax expense, it said in a disclosure to Tadawul<\/a>. Its revenues were up 4.5% y-o-y to SAR 19.2 bn due to an increase in revenues from its commercial unit and subsidiaries.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

For the year-to-date: <\/strong>Stc\u2019s net income was up 7.7% y-o-y to SAR 6.6 bn, according to an earnings release (pdf)<\/a>. Revenues for the period came in at SAR 38.3 bn, representing 4.8% y-o-y growth.<\/p>\n

Dividends: <\/strong>Stc will distribute c. SAR 2 bn in dividends for 2Q 2024 at SAR 0.4 per share, it said in a separate disclosure to Tadawul<\/a>. The distribution date was set for Thursday, 15 August.<\/p>\n

\n

\n

#2- Etihad Etisalat (Mobily) booked SAR 661 mn in net income in 2Q 2024,<\/strong> up 33% y-o-y on both higher revenues and lower zakat and tax charges, it said in an earnings release (pdf)<\/a>. Revenues were up 4.6% y-o-y to SAR 4.5 bn due to the \u201cexpansion of all revenue streams with the business segment leading the charge.\u201d<\/p>\n

For the year-to-date: <\/strong>The telecom operator\u2019s net income rose 35% y-o-y to SAR 1.3 bn while its revenues increased by 8.1% y-o-y to SAR 9 bn.<\/p>\n

\n

\n

First Milling\u2019s net income rose 30.4% y-o-y to SAR 45.5 mn in 2Q 2024 <\/strong>on the back of an increase in sales volumes for its small-pack products segment, it said in an earnings release (pdf)<\/a>. Its revenues grew 13.3% over the same period to SAR 242.3 mn on the back of double-digit growth in its feed sales as the miller prioritized feed production to meet rising demand.<\/p>\n

For the year-to-date: <\/strong>First Milling\u2019s net income was up 13.4% y-o-y to SAR 123.2 mn in 1H 2024, while revenues rose 10.5% y-o-y to SAR 518.8 during the same period.<\/p>\n

How dividends are looking:<\/strong> The company\u2019s board approved the distribution of SAR 86 mn in dividends at SAR 1.55 per share for 1H 2024, it said in a disclosure to Tadawul<\/a>. The distribution date was set for Tuesday, 13 August.<\/p>\n","protected":false},"excerpt":{"rendered":"

Mobily\u2019s net income was up 33% y-o-y in 2Q 2024<\/p>\n","protected":false},"author":1,"featured_media":88108,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2607],"tags":[285,10,2927,1882,1161],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88107","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-enterpriseam-ksa","tag-etihad-etisalat-mobily","tag-first-milling","tag-saudi-telecom-group-stc","wpautop","entry"],"acf":{"mongo_id":"ef266146-ebc8-4e46-9408-b5ece3d5ca60","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/1918.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Stc, Mobily and First Milling report financial results for 2Q 2024","related_issue":[88094],"teaser":"Mobily\u2019s net income was up 33% y-o-y in 2Q 2024","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.222a949c-0462-4d16-b392-779c7e564b80.mp3"},"yoast_head":"\nStc, Mobily and First Milling report 2Q earnings - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stc, Mobily and First Milling report 2Q earnings\" \/>\n<meta property=\"og:description\" content=\"Mobily\u2019s net income was up 33% y-o-y in 2Q 2024\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-24T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1918.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Stc, Mobily and First Milling report 2Q earnings\",\"datePublished\":\"2024-07-24T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/\"},\"wordCount\":349,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1918.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EARNINGS WATCH\",\"EnterpriseAM KSA\",\"Etihad Etisalat (Mobily)\",\"First Milling\",\"Saudi Telecom Group (stc)\"],\"articleSection\":[\"EARNINGS WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/\",\"name\":\"Stc, Mobily and First Milling report 2Q earnings - KSA\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1918.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-07-24T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1918.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1918.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Stc, Mobily and First Milling report 2Q earnings\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"name\":\"KSA\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\",\"name\":\"KSA\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42482.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42482.svg\",\"caption\":\"KSA\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Stc, Mobily and First Milling report 2Q earnings - KSA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/","og_locale":"en_US","og_type":"article","og_title":"Stc, Mobily and First Milling report 2Q earnings","og_description":"Mobily\u2019s net income was up 33% y-o-y in 2Q 2024","og_url":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/","og_site_name":"KSA","article_published_time":"2024-07-24T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1918.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Stc, Mobily and First Milling report 2Q earnings","datePublished":"2024-07-24T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/"},"wordCount":349,"publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1918.jpg?fit=%2C&ssl=1","keywords":["EARNINGS WATCH","EnterpriseAM KSA","Etihad Etisalat (Mobily)","First Milling","Saudi Telecom Group (stc)"],"articleSection":["EARNINGS WATCH"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/","url":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/","name":"Stc, Mobily and First Milling report 2Q earnings - KSA","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1918.jpg?fit=%2C&ssl=1","datePublished":"2024-07-24T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1918.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1918.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/24\/stc-mobily-and-first-milling-report-2q-earnings\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/ksa\/"},{"@type":"ListItem","position":2,"name":"Stc, Mobily and First Milling report 2Q earnings"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/ksa\/#website","url":"https:\/\/enterpriseam.com\/ksa\/","name":"KSA","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/ksa\/#organization","name":"KSA","url":"https:\/\/enterpriseam.com\/ksa\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42482.svg","contentUrl":"https:\/\/ent.news\/internal\/42482.svg","caption":"KSA"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1918.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1918.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1918.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/88107","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/comments?post=88107"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/88107\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/88094"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media\/88108"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media?parent=88107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/categories?post=88107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/tags?post=88107"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/brand?post=88107"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=88107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}