Saudi Telecom Co’s net income for the second quarter of 2017 increased by 7.9% to reach SR 2.4 billion.
For the first quarter of 2017 net income reached SR 4.9 billion, an increase of 6.6% compared to the same period last year.
Dr. Khaled H. Biyari, STC Group CEO, said: “The whole region is moving towards digital transformation through elements of the fourth industrial revolution, here comes the importance of Governments in the region to provide the right environment and stimulate investment in digital infrastructure required.
“STC embraced the Kingdom Vision 2030 and the national transformation programme 2020 through multiple initiatives, which include deployment of broadband throughout the Kingdom.
“The company recently signed with the Ministry of Communications and Information Technology, represented by the communications and information technology Commission, an agreement to provide high speed broadband with fibre-optic technology.
“This has a projected cost of up to SR 7.3 billion, designed to deliver broadband to more than 2 million homes across the Government plan under the supervision of the Ministry of communications and information technology.”
He added that STC will continue to invest in promising technologies and digital sectors, particularly in areas that enable growth of investments in different areas.
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