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Company News, Business

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

Alphabet posts first $100 bn quarter

The growth was powered by cloud division buoyed by AI

Nvidia to take stake in Nokia

Nvidia share price soars 20%.

EITC Q1 net profit $86.44m

Revenues grew 8.5 percent to AED 3,128 million.
By TRENDS Desk
April 29, 2022 4:42 pm
  • Mobile service revenues increased 6.9 percent to AED 1,402 million while handset sales generated AED 216 million in revenues.
  • Fixed services revenues jumped 22.8 percent to AED 815 million on sustained demand from consumer and enterprise customers.

Emirates Integrated Telecommunications Company has reported a 21 percent jump in net profit to AED 311 million ($86.44 million) during the first quarter of 2022.

Revenues grew 8.5 percent to AED 3,128 million. Mobile service revenues increased 6.9 percent to AED 1,402 million while handset sales generated AED 216 million in revenues.

Fixed services revenues jumped 22.8 percent to AED 815 million on sustained demand from consumer and enterprise customers. In aggregate, service revenues increased 12.2 percent to AED 2,217 million.

EBITDA increased by 13.3 percent year-over-year to AED 1,269 million. The company said the improvement was mainly driven by higher service revenues.

The company registered a 10.4 percent growth in mobile customers. EITC ended the quarter with 7.5 million subscribers across the postpaid and prepaid segments.

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