Saudi Telecom Company reported earnings results for the fourth quarter of 2014. For the quarter, the company registered a 32.6% decreased in its net profit as gains on a property deal with the government failed to make up for higher expenses and losses on investments. During the fourth quarter of 2014, the company recorded a USD 649.8 million in net profit, declining from USD 963.67 million posted during the corresponding period in 2013, attributing the decline to a 19% rise in expenses.

Revenue was USD 3.15 billion, thus decreasing by 5.2% during the cited period.