du profit, SPO surge shake up UAE telecom
Emirates Integrated Telecommunications Company PJSC reported third-quarter earnings, with revenue climbing 7.9 percent to 3.87 billion dirhams. The Dubai firm added 10.3 percent more mobile customers, bringing the total to 9.2 million subscribers, while fixed service users grew 9.7 percent to 718,000. Earnings before interest, taxes, depreciation, and amortization hit 1.85 billion dirhams with margins at 47.8 percent.
The company completed the sale of 7.55 percent of the shares previously held by Mubadala, raising its public float to 27.7 percent. Mobile services brought in 8.4 percent more revenue while fixed operations gained 8.9 percent. Chief executive Fahad Al Hassawi said results reflect steady execution and investments in artificial intelligence infrastructure. Operating free cash flow rose 11 percent to 1.36 billion dirhams as the telecom provider maintained spending discipline.
