Saudi Arabia’s leading telecommunications provider, stc Group, has announced record revenues of SAR 57.9 billion (around USD 15.4 billion) for the first nine months of 2025, its highest in history. According to a report by Saudi Gazette, the figure marks a 2.6 % year-on-year increase compared with the same period in 2024.
Gross profit rose to SAR 27.9 billion, up 5.7 % when excluding non-recurring items, while adjusted net profit climbed 14.8 % to SAR 11.6 billion. Operating profit reached SAR 10.8 billion, an increase of 2.4 %, and EBITDA came in at SAR 18.5 billion, up 5.7 % on a comparable basis. The company credited the gains to its digital transformation initiatives and ongoing cost-efficiency programs.
Chief Executive Officer of stc Group “Olayan Alwetaid” said the performance reflects stc’s continued investment in infrastructure and innovation, aligning with Saudi Vision 2030 to accelerate the Kingdom’s digital economy. The company has been expanding its footprint across cloud computing, Internet-of-Things (IoT), data centers, and cybersecurity areas it sees as key growth drivers beyond traditional telecom services.
In the first half of the year, stc had already reported revenues of SAR 38.66 billion, with a 6.1 % increase in EBITDA and margin improvement to 31.8 %, according to Economy Middle East. These latest results suggest that the momentum continued into the third quarter, supported by both consumer and enterprise segments.
Across the Gulf, telecom peers such as Etisalat by e&, du, and Ooredoo have been pursuing similar digital transformation strategies to offset slower growth in legacy voice services. Etisalat, for instance, saw consolidated revenues rise 4.4 % year-on-year in 2024, fueled by cloud, fintech, and IoT offerings. Analysts note that the pattern is consistent across mature telecom markets where operators increasingly rely on diversification and technology investments to sustain growth.
Financially, stc remains on solid ground. Total shareholders’ equity rose to SAR 83.9 billion as of 30 September 2025, according to Argaam’s financial report. The board approved a SAR 0.55 per-share dividend for the third quarter, maintaining its stable payout policy and signaling confidence in the company’s long-term cash flow.
While top-line growth appears modest compared with some emerging markets, stc’s margin expansion points to a maturing operation balancing profitability with innovation. The group’s mix of digital services, 5G infrastructure, and enterprise technology continues to expand reflecting Saudi Arabia’s broader ambition to establish itself as a regional technology hub.
The company’s ongoing transformation echoes similar moves by global telecom operators such as Verizon and BT Group, which have pivoted toward digital ecosystems, network modernization, and enterprise solutions to drive new revenue streams.
For stc Group, the results underscore both scale and direction: a telecom giant steadily evolving into a technology-driven platform company. Its record revenues and improved margins show that Saudi Arabia’s digital-first strategy once aspirational is now increasingly reflected in the balance sheets of its biggest players.
STC sets new revenue record at SAR 57.9B in first 9 months of 2025