Leading Saudi mobile phone operator-Zain Saudi, having 18 percent market share, has contracted its net loss by 29.4 percent in the fourth quarter to $175.2m due to higher revenue from its operations during the period.
The net loss is above the projections of EFG Hermes which forecasted a net loss of SR618m as compared to SR657m during the fourth quarter. The mobile operator reported 44.3 percent decline in operating loss which stood at SR436m during the fourth quarter.
Firm's loss per share rose 35.6 percent to stand at SR2.21 for 2009 as compared to SR1.63 in financial year 2008. It made total revenue of SR3billion in 2009 with a rise of 495 percent against its revenue in 2008.
Zain Saudi Arabia's fourth quarter revenue stood at SR895m, 110.6 percent above than it had reported during the previous year.
- New York City Rent Guidelines Board in an Unprecedented Move Votes to Freeze Regulated Rents on One-Year Leases
- According to S&P Dubai Real Estate Prices Likely to Drop Ten to Twenty Percent 2015
- Gains Noted in Southern California Home Sales Marking a Rise in Prices
- Fannie Mae Accused of Discriminating Neighborhoods on the Basis of Races by Fair Housing
- Second Quarter Profits of Business Software Provider SAP Drops Due to Higher Expenditures
- The National Football League’s Revenue Growing Rapidly with $1.3 billion Added Revenue in 2014
- Express with Emojis and You Might be Able to Suggest the Next Emoji to be Included on the Keyboard
- Livetext, the New Yahoo Messenger Debuts in Hong Kong before a Wider Release
- Report from a Security Firm Suggests Decline in Spam Rate and Increase in Malware Creation
- President Obama Planning to Make Changes in US Criminal Justice System
- Documents from 2005 Sex-Assault Lawsuit Should Not Be Unsealed, says Bill Cosby’s Lawyer
- Friend of Boston Bomber Sentenced Two And a Half Years of Imprisonment
- Prison Employee faces Charges of helping 2 Prisoners to Escape
- New York police detective shoots gunman who injured a man