etisalat Q3 profit hits Dh11.2 billion as Vodafone stake sale boosts earnings

Dubai-based telecommunications company etisalat reported a substantial Q3 profit of Dh11.2 billion in 2026, fueled by the sale of its Vodafone stake and solid revenue growth. Quarterly revenue climbed 6.9 percent year-on-year to Dh19.5 billion, while consolidated revenue for the first nine months increased 10 percent to Dh57.6 billion.

Net profit for the period reached Dh17.2 billion, a 45.9 percent rise from the previous year, as per the company’s financial statements. The significant boost in earnings was largely due to the successful sale of the entire Vodafone Group stake, which generated a Dh21.9 billion consideration, including the final dividend and a Dh8 billion gain.

This transaction provided etisalat with enhanced financial flexibility and contributed to the notable earnings surge.

Beyond the Vodafone transaction, etisalat observed growth in its core operations. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 5.1 percent year-on-year to Dh9 billion in the third quarter, reflecting a 46.1 percent margin. For the first nine months, EBITDA increased 10.3 percent to Dh26.7 billion, maintaining a 46.4 percent margin.

The company's global subscriber base swelled 29.4 percent year-on-year to 254.8 million during the quarter, with a 5.2 percent increase in the UAE, pushing the subscriber count to 16.5 million.

Masood M. Sharif Mahmood, Group CEO of etisalat, highlighted the results as a testament to the company's connectivity business performance and operational execution. He emphasized that the Q3 2026 outcome underscores the resilience of their business model and the effectiveness of turning growth opportunities into tangible results. etisalat is currently celebrating its 50th anniversary and is planning to expand its role in artificial intelligence, cloud computing, cybersecurity, and digital infrastructure.

The company aims to augment its international connectivity capacity to exceed 500 terabits per second by 2030, representing a more than 25-fold increase over its current capacity. This strategic move is intended to facilitate faster data transmission, lower latency, and more dependable international connectivity as demand for AI-driven services escalates.