stc group delivers strong financial performance in the first half of the year, with revenue reaching a record SAR40.1 billion

STC Group reported a strong financial performance for the first half of 2026, with revenue reaching a record SAR40.1 billion, marking a 3.8% increase compared to the same period in the previous year. The company's gross profit grew by 5.3%, and operating profit rose by 7.8%, indicating robust operational efficiency. Earnings before interest, taxes, zakat, depreciation, and amortization (EBITDA) increased by 5.5%, while net profit grew by 6.3%, surpassing analysts' estimates after excluding non-recurring items.

CEO Eng. Olayan bin Mohammed Alwetaid highlighted the company's strong financial and operational performance, crediting its strategic priorities and solid financial position. He noted a 4.8% increase in the number of STC mobile customers to 30.3 million and a 3.0% rise in fixed customers to 6.1 million. The expansion of the 5G tower network to 12,120 and the growth in households connected to the fibre-optic network to 3.87 million also underscored the company's commitment to expanding digital infrastructure.

STC Group's strategic partnerships, including one with ROSHN Group to develop the SEDRA community's fibre-optic network and its collaboration with AST SpaceMobile for satellite communication services, further emphasized its role in supporting major developments. The launch of STC Cloud, powered by Oracle Alloy, marked a significant step in the group's digital transformation strategy, aimed at advancing digital solutions and data sovereignty in the Kingdom.

Additionally, STC Group maintained its focus on executing its digital strategy, achieving milestones such as the publication of its seventh annual Sustainability Report and its leadership in the Local Content Award for Large Enterprises.