{"id":48988,"date":"2022-04-19T15:51:28","date_gmt":"2022-04-19T12:51:28","guid":{"rendered":"http:\/\/www.indexeconomic.com\/?p=48988"},"modified":"2022-04-19T15:51:30","modified_gmt":"2022-04-19T12:51:30","slug":"zain-ksas-profits-surge-by-98-in-q1-2022","status":"publish","type":"post","link":"https:\/\/indexeconomic.com\/?p=48988","title":{"rendered":"Zain KSA\u2019s Profits Surge by 98% in Q1 2022"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"> <strong>Showcasing Consistency in its Strong Financial Performance<\/strong> <\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">Zain KSA has disclosed its financial results for Q1 2022 in\nwhich the company recorded a consistent upsurge in its financial performance,\nhighlighting the positive results of its increased profitability that has grown\nexponentially over the last five years.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">In Q1 2022, Zain KSA achieved a 98% increase in profits recording\nSAR 81 million, compared to the SAR 41 million recorded during Q1 2021. This is\ndue to the growth of business sector revenues, 5G services and other sources of\nrevenues. The company\u2019s revenues grew by 12% in Q1 this year, compared to the\nsame period last year, to reach SAR 2179 million.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">Solidifying its position and offering it stability during\nuncertain times for more than five years, Zain KSA\u2019s positive financial results\nreflect the success of its operations and investment strategy in addition to its\napproach in making sizable investments to drive digital innovation across the\nKingdom by expanding its portfolio of 5G products and services that serve as\npillars for the world\u2019s digital future, thereby accelerating the Kingdom\u2019s\ndigital transformation in line with the goals of its Vision 2030.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">Commenting on this achievement, Zain KSA\u2019s CEO Eng. Sultan\nbin Abdulaziz Al-Deghaither stated, \u201cThe Q1 2022 results are a direct outcome\nof the company\u2019s stable financial performance which flourishes due to several\nkey ingredients, most notably building up a strong capital which has helped extinguished\nall losses, ensuring effective corporate governance for financial and\noperational excellence, as well as revenues from the business sector and 5G\nservices, in addition to consistently investing in developing digital products\nand services in the Kingdom. On a different note, I would like to emphasize\nthat as part of our commitment to providing our customers with futuristic\ntechnological innovations today, the first quarter of 2022 marks a significant\nmilestone along this journey to deliver such innovative solutions through our numerous\nstrategic partnerships with globally-leading players in the field.\u201d<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">He further indicated, \u201cWe have concentrated our efforts on\ninnovation and deployed the 5G Stand-Alone technology, thereby becoming the\nfirst network operator to realize this unprecedented achievement in the Kingdom\nwhile paving the way for more advanced 5G use cases and applications to be\nleveraged in the next phase. Through such a unique investment, we will unlock\nnew growth opportunities for digital services in support of digital consumers as\nwell as enterprises, keeping pace with the Kingdom\u2019s digital transformation\nefforts and contributing to the goals of Saudi Vision 2030. After that, we launched\n5G LAN to become MENA\u2019s first telecom operator to roll out this solution\noffering our customers in the business sector advanced, secure, and reliable connectivity\nregardless of the number of connected devices and the type of their network\nconnection, helping them save on equipment and maintenance expenses.\u201d<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">It is worth mentioning that Zain KSA has recently\nestablished several strategic partnerships with global tech giants during this\nyear\u2019s first quarter while attending some of the world\u2019s most prominent tech\nevents such as the global tech expo LEAP, hosted by the Kingdom and organized\nby the Ministry of Communications and Information Technology (MCIT) and the\nSaudi Federation for Cybersecurity, Programming and Drones (SAFCSP). During its\nparticipation, Zain KSA unveiled PLAYHERA MENA as part of an investment worth\nSAR 375 million and signed 16 memorandums of understanding (MoUs) and\npartnership agreements with some of the world\u2019s biggest tech companies, helping\ntransform LEAP into a platform&nbsp;for unlocking incredible future opportunities&nbsp;for\ntechnological innovation across the Kingdom. In addition, Tamam, Zain KSA\u2019s fintech\narm in Saudi Arabia, signed an MoU with the Saudi Credit Bureau (SIMAH) to\ndevelop a promising future in fintech. The company also attended the Mobile World\nCongress (MWC) Barcelona, held from February 28 to March 3, 2022, where it\nsigned several MoUs and partnership agreements. Additionally, Zain KSA has\nstrengthened its strategic partnership with NVIDIA, the world&#8217;s largest cloud\ncomputing company,&nbsp;to expand the GeForce NOW cloud gaming platform to\nserve regional markets.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">Zain KSA continues to work on multiple fronts to enhance its\nintegrated digital ecosystem that offers a rich portfolio of various services\nfor subscribers and businesses, whilst supporting the digitalization of several\neconomic and service sectors, such as fintech, digital entertainment sectors or\nother sectors, keeping up with the latest trends and next-gen innovations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Showcasing Consistency in its Strong Financial Performance Zain KSA has disclosed its financial results for Q1 2022 in which the company recorded a consistent upsurge in its financial performance, highlighting the positive results of its increased profitability that has grown exponentially over the last five years. In Q1 2022, Zain KSA achieved a 98% increase &hellip;<\/p>\n","protected":false},"author":2,"featured_media":48963,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[439],"tags":[],"class_list":["post-48988","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Zain KSA\u2019s Profits Surge by 98% in Q1 2022 - \u0635\u062d\u064a\u0641\u0629 \u0627\u0644\u0645\u0624\u0634\u0631 \u0627\u0644\u0625\u0642\u062a\u0635\u0627\u062f\u064a<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/indexeconomic.com\/?p=48988\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zain KSA\u2019s Profits Surge by 98% in Q1 2022 - \u0635\u062d\u064a\u0641\u0629 \u0627\u0644\u0645\u0624\u0634\u0631 \u0627\u0644\u0625\u0642\u062a\u0635\u0627\u062f\u064a\" \/>\n<meta property=\"og:description\" content=\"Showcasing Consistency in its Strong Financial Performance Zain KSA has disclosed its financial results for Q1 2022 in which the company recorded a consistent upsurge in its financial performance, highlighting the positive results of its increased profitability that has grown exponentially over the last five years. 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