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Etisalat’s earnings report is out, and it’s boasyMENA

Etisalat’s earnings report is out, and it’s boasy

Looks like someone is paying for dinner tonight!

UAE’s telecom company Etisalat just released their 2020 earnings report and those numbers are definitely worth bragging about. The company’s net profit for the year was up 3.8% at $2.5b, while revenue amounted to around $14b. It also saw its global customer base reach 154 million, of which the number of subscribers in the UAE alone was over 12 million.

The firm’s shares were up 1% following the earnings news.

Etisalat’s business performed strongly last year because it benefited from the working-remotely trend (who really are you if you didn’t have to upgrade your internet bandwidth?).

why it matters
Etisalat's future definitely seems busy with growth plans! It has been focusing on expanding its international business to diversify its operations, and just last month announced plans to raise the foreign ownership limits of its stock.