The stc Group plays a vital role in supporting the digital economy in Saudi Arabia, continuing to expand its digital infrastructure and enhance its market position. The group recorded its highest revenues in two decades, reflecting the success of its digital transformation strategies.
Amid the rapid economic transformation in the Kingdom, the process of diversifying the economy has become a tangible reality, manifested through the growth of non-oil sectors such as tourism, logistics, and financial services. This transformation requires advanced digital infrastructure, which stc aims to achieve through its investments and strategic partnerships.
Event Details
The stc Group announced achieving record revenues of approximately 19.9 billion SAR (5.3 billion USD) in the first quarter of 2026, with a net profit of 3.7 billion SAR (986 million USD). These results exceeded analysts' expectations, reflecting the quality of profits and the strength of the group's operational processes.
stc continues to strengthen its presence in the Saudi market, being one of the largest companies listed on the local stock exchange. It also maintains its position as one of the largest telecommunications companies globally in terms of brand value, leading the list of the strongest brands in the Middle East.
Background & Context
These results coincide with Saudi Vision 2030, which aims to transform the national economy from reliance on oil to diversifying sources of income. stc plays a pivotal role in this transformation through its investments in digital infrastructure, enhancing its ability to meet the increasing demand for digital services.
The group also seeks to expand its range of services through acquisitions and partnerships, such as its acquisition of 9.9% of the Telefónica Group, reflecting its strategy to enhance its regional and international presence.
Impact & Consequences
stc's results are a positive indicator not only of its financial performance but also of its role as a key digital enabler in supporting digital transformation and economic diversification. With the increasing reliance on technological solutions, stc's importance in fostering innovation and providing advanced services that meet market needs becomes evident.
Moreover, the ongoing dividend policy enhances the attractiveness of the group's shares to investors, reflecting confidence in its future strategies and ability to achieve sustainable growth.
Regional Significance
stc serves as a role model in the region, contributing to enhancing digital transformation in Arab countries. Through its investments and partnerships, it helps build an integrated digital environment that supports innovation and economic growth.
In conclusion, the stc Group continues to strengthen its role as a key digital enabler in Saudi Arabia, contributing to achieving the goals of Vision 2030 and reflecting its commitment to supporting the national economy.