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Saudi Zain reports smaller 2Q losses
by hlk Mon 18 Jul 2011, 13:39
RIYADH, Saudi Arabia (AP) - Saudi Arabia's third-largest mobile phone operator Zain has posted a lower net less for the second quarter compared with the same period last year.
In a statement issued Sunday, the company said it lost approximately $119 million compared with more than $168 million a year earlier.
The company said a boost from more than 9 million new customers helped narrow the net loss by 29 percent.
Revenues in the second quarter were more than $454 million, a $68 million jump from the same quarter last year.
Zain Saudi Arabia is the country's newest mobile operator. The company said its net losses since the beginning of the year narrowed by around 24 percent to $261 million compared with the first half of last year.
In a statement issued Sunday, the company said it lost approximately $119 million compared with more than $168 million a year earlier.
The company said a boost from more than 9 million new customers helped narrow the net loss by 29 percent.
Revenues in the second quarter were more than $454 million, a $68 million jump from the same quarter last year.
Zain Saudi Arabia is the country's newest mobile operator. The company said its net losses since the beginning of the year narrowed by around 24 percent to $261 million compared with the first half of last year.
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