stc Reports Record SAR 40.1 Billion Revenue in H1 2026
The telecom group posted higher revenue, profits and customer growth while approving a SAR 2.7 billion quarterly dividend.
Saudi telecommunications company stc group reported record revenue of SAR 40.1 billion for the six months ended June 30th, 2026, marking a 3.8% year-on-year increase.
The company posted gross profit of SAR 19.64 billion, up 5.3%, while operating profit rose 7.8% to SAR 7.77 billion. Earnings before interest, taxes, zakat, depreciation and amortisation (EBITDA) increased 5.5% to SAR 12.97 billion, and net profit grew 6.3% after excluding non-recurring items. The board also approved a second-quarter dividend of SAR 0.55 per share, representing a total distribution of SAR 2.7 billion.
According to stc Group CEO Olayan bin Mohammed Alwetaid, the group's second-quarter net profit exceeded average analyst estimates by 4%. He added that the company's mobile subscriber base in Saudi Arabia grew 4.8% year on year to 30.3 million, while fixed-line customers increased 3% to 6.1 million. Households connected to the fibre-optic network also rose 5.2% to 3.87 million. During this year's Hajj season, the group said it supported record levels of data traffic across the Holy Sites through its connectivity services and AI-powered digital solutions.
The company also highlighted several strategic initiatives during the period, including an agreement with ROSHN Group to develop neutral fibre-optic infrastructure for future phases of the SEDRA community in Riyadh, progress on a joint venture with HUMAIN through center3, and continued work with AST SpaceMobile on direct-to-device satellite communications. It also advanced its STC Bank strategy and launched stc cloud, powered by Oracle Alloy, as a sovereign cloud platform operating within Saudi Arabia.
In addition, stc published its 2025 Sustainability Report, received an AA rating in the 2025 MSCI ESG assessment, ranked first in the Local Content Award for Large Enterprises for the third consecutive year with a 50.69% local content ratio, and maintained stable credit ratings from Standard & Poor's, Fitch Ratings, Moody's and Tassnief.
