Commenting on the results, the group”s Chief Executive Officer, Eng. Olayan bin Mohammed Alwetaid, said the company’s performance reflects the strength of its business model, operational resilience, and solid financial position, enabling it to execute its long-term strategy while delivering sustainable value to shareholders.
Saudi Arabia’s stc Group reported strong financial and operational performance for the first half of 2026, driven by revenue growth, an expanding subscriber base, continued investment in digital infrastructure, and progress across its digital transformation initiatives.
Commenting on the results, the group’s Chief Executive Officer, Eng. Olayan bin Mohammed Alwetaid, said the company’s performance reflects the strength of its business model, operational resilience, and solid financial position, enabling it to execute its long-term strategy while delivering sustainable value to shareholders.
During the first six months of the year, stc recorded 3.8% revenue growth, while earnings before interest, taxes, zakat, depreciation and amortisation (EBITDA) increased by 5.5%. Excluding non-recurring items in both reporting periods, net profit rose by 6.3%, with second-quarter earnings exceeding the average estimates of financial analysts by 4%.
The company also continued expanding its customer base and network infrastructure. The number of mobile subscribers in Saudi Arabia increased by 4.8% year-on-year to 30.3 million, while fixed-line customers grew by 3% to 6.1 million. The operator expanded its 5G network to more than 12,000 towers, while households connected to its fibre-optic network rose by 5.2% to 3.87 million, reflecting sustained demand for high-speed connectivity and continued investment in digital infrastructure.
During the 2026 Hajj season, stc said it played a key role in supporting millions of pilgrims through connectivity services and AI-powered digital solutions. The company reported that its integrated digital ecosystem successfully handled record levels of data traffic while maintaining uninterrupted network performance across the Holy Sites.
On the partnerships front, stc signed an agreement with ROSHN Group to develop a neutral fibre-optic network for upcoming phases of the SEDRA community in Riyadh. The shared infrastructure will enable multiple telecommunications providers to deliver services over the same fibre network, improving operational efficiency and expanding broadband access.
The group also continued implementing its memorandum of understanding with HUMAIN to establish a joint venture through its data center subsidiary, center3. According to the company, extending the agreement will allow both parties to complete regulatory and operational requirements before finalising the joint venture. In addition, stc advanced its strategic partnership with AST SpaceMobile to develop satellite-based direct-to-device communication services.
Its digital banking business also recorded continued growth. stc said STC Bank expanded its customer base while increasing deposits and investment portfolios, contributing to higher revenues and profitability as the bank continued to enhance its portfolio of digital financial services.
As part of its cloud strategy, the company launched stc cloud, powered by Oracle Alloy, describing it as Saudi Arabia’s first sovereign cloud platform. The solution combines global cloud technologies with locally managed operations and governance, enabling organizations to accelerate digital transformation while maintaining compliance with national data sovereignty requirements.
Beyond its commercial operations, stc strengthened its environmental, social, and governance (ESG) credentials through the publication of its seventh annual Sustainability Report for 2025. The group also achieved an AA rating in the 2025 MSCI ESG assessment, reflecting progress in environmental sustainability, governance, human capital development, and responsible business practices.
The company also maintained its focus on local content development through its Rawafed programme, securing first place in the Local Content Award for Large Enterprises for the third consecutive year. Organized by the Local Content and Government Procurement Authority, the award recognized stc for achieving a local content ratio of 50.69%.
stc concluded the first half of 2026 with its strong financial standing reaffirmed by international and local credit rating agencies. The group retained ratings of A+ with a stable outlook from S&P Global Ratings and Fitch Ratings, Aa3 with a stable outlook from Moody’s, and AAA with a stable outlook from Tassnief, reflecting continued confidence in the company’s financial strength and leadership in the telecommunications sector.
