Financials

Etisalat Group  achieves a net profit margin of 16% for Q1, 2018
Q1 saw Etisalat and Microsoft forming a strategic partnership to deliver the comprehensive, trusted Microsoft Cloud from their first datacentre located in the Middle East. Etisalat has also partnered with key industry peers to form the Global Telco Security Alliance.
STC reports a 2.1% increase in net income for Q1 2018
Acting CEO stresses that technological advancements associated to the information revolution would play a vital role as the key driver for digital transformation in the Kingdom by developing the required infrastructure for data and connectivity.
Mobily reports decreased loss and increased revenue for Q1
Growing revenues from data, better efficiency in managing operational expenses and reduced interconnection contribute to better performance for the Saudi operator
Ericsson shows improvement in quarterly results as cost cuts pay off
Gross margin improves from 19 percent to 36 percent. The company launched a major restructuring drive in July 2017 as a result of which the total workforce has been reduced by almost 18,000. To date, the annual run-rate effect of cost savings is approximately SEK 8.5 b ($1.01 billion).
Zain Group to distribute $0.11 per share to shareholders for 2017
Zain Group's consolidated net income for 2017 increased by 2% to KD 160 million ($527 million), reflecting Earnings Per Share of 39 fils ($0.13). Consolidated revenues amounted to KD 1.03 billion ($3.4 billion), down 5% YoY.
Huawei reports solid performance for 2017 with a 28% increase in profits
Huawei's Carrier business group generated $45.7 billion in revenue in 2017, an increase of 2.5% YoY, focusing on helping global carriers maximise the potential of their existing network assets
Ericsson aims at $1.2 billion cost reduction by mid-2018
Over time, with the ramp up of 5G and contribution from innovation and new businesses, Ericsson’s target is an operating margin of at least 12%.
Teleology Holdings buys 9mobile, formerly Etisalat Nigeria
Led by former MTN CEO, Adrian Wood, Teleology won the bid earlier in the year, by offering more than $500 million while one of the other top bidders, Smile offered $300 million.