Operator group Etisalat reported increased revenue and profit for Q3, as its CEO Hatem Dowidar (pictured) reiterated a target to create internal efficiencies using AI and robotics.
In its earnings statement, Dowidar noted the company would “continue to channel our efforts towards enabling private and public sectors’ digital transformation journeys”, in addition to using the technologies itself.
The executive has talked-up the potential of integrating digital technologies on a number of occasions and noted he was confident in progress despite the “various global macro-economic factors” reshaping the business environment in its footprint.
Net profit of AED2.4 billion ($653.5 million) was up 1 per cent year-on-year, on revenue of AED13.3 billion, up 2 per cent.
Subscribers grew 4 per cent to 155.4 million. Capex was 77 per cent higher, mostly on spectrum acquisition and licencing costs.
Etisalat also increased its stake in Maroc Telecom to effectively own a 53 per cent share.