Telecom operator Zain Saudi reported a narrowing third-quarter loss on Tuesday, roughly in line with analyst forecasts as margins improved, provisions fell and Internet usage increased.
Zain Saudi, 37 per cent owned by Kuwait’s Zain, made a net loss of SR316 million ($84.23 million) in the three months to September 30. This compares with a net loss of SR421 million in the prior-year period.
Analysts polled by Reuters on average forecast Zain Saudi would make a quarterly loss of SR329.7 million.