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Introduction

This report provides an update on the performance of STC Group's operations to 2Q19, including a company overview, market dynamics, KPIs, and analysis of strategic initiatives and key products.

Highlights

  • STC Group's total revenue increased by 4.0% year on year (YoY) to SAR13.6bn ($3.62bn) in 2Q19; this increase is attributed to the increase in revenue from data and also from the wholesale and enterprise segments. The increase in revenue coupled with the decline in cost of revenue led to an increase in STC Group's net profit for 2Q19 by 15.6% YoY to SAR2.9bn ($774.8m).
  • STC has adopted a new strategy, "DARE," focusing on digital expansion and exploiting existing assets. This is evident from the launch of products and services such as 5G commercial services and STC Pay as well as its focus on developing solutions based on the Internet of Things, cybersecurity, cloud, and big data platforms.

Features and Benefits

  • Assesses STC's 2Q19 operational and financial performance.
  • Analyzes the group's strategic initiatives and key developments over the year to end-2Q19.

Key questions answered

  • What are STC's key operational and financial highlights over the last year?
  • What are the key drivers of the group's financial growth in the future?

Table of contents

Summary

  • Introduction
  • Download 1: STC Group Update, November 2019

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