Etihad Atheeb Telecommunication Co. (GO) narrowed net loss after Zakat and tax by 61.5% year-on-year (YoY) to SAR 12.3 million for the three-month period ending June 30, 2020, driven by lower cost of services, decreased operating expenses, and declining cost of finance.
On a quarter-on-quarter basis, the telecom operator widened loss by 34.5% on lower revenue and higher cost of finance.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 97.10 | 73.03 | (24.8 %) |
| Gross Income | 39.68 | 39.87 | 0.5 % |
| Operating Income | (25.95) | (8.67) | 66.6 % |
| Net Income | (31.86) | (12.27) | 61.5 % |
| Average Shares | 29.62 | 29.62 | 0.0 % |
| EPS (Riyals) | (1.08) | (0.41) | 61.5 % |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 78.39 | 73.03 | (6.8 %) |
| Gross Income | 54.81 | 39.87 | (27.3 %) |
| Operating Income | (4.46) | (8.67) | (94.3 %) |
| Net Income | (9.12) | (12.27) | (34.5 %) |
| Average Shares | 29.62 | 29.62 | 0.0 % |
| EPS (Riyals) | (0.31) | (0.41) | (34.5 %) |
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