­Saudi Arabia's STC has reported 8% increase in third quarter revenues reaching SR15.15 billion (US$4 billion) compared to SR14 billion in Q3 2011. The increase in revenues was attributed to the growth in Broadband (fixed & mobile), Business sector services and wholesales services domestically and from international operations.

STC reported a 25% increase in net profit for Q3 2012 to reach SR1.95 billion (US$520 million) compared to Q3 2011, but missing analyst expectatiuons.

While net income decrease by 19% compared to the previous quarter despite the 4% increase in Q3 consolidated revenue compared to Q2, is attributed to the increase in operating expenses in the company's international operations in Q3.

Commenting on the results, STC Group CEO, Dr. Khaled A. Alghoneim, said, "We are currently, embarking on a program that should improve operational performance and lead the group into a new work culture, to be agile and nimble to seize opportunities domestically and internationally. As we evolve as a company, we are constantly reassessing and improving the operations to increase the returns for our shareholders."

STC's total domestic mobile customer (postpaid & prepaid) Increased 14% compared to Q3 2011 and 2% compared to Q2 2012.

The wireless broadband customer base also grew well in the third quarter, increasing by 17% compared to the immediate prior quarter. As a result, wireless broadband revenues grew by 68% during the same period compared to Q3 2011. This can be partially attributed to the increase in 3G and 4G coverage. In addition, STC continued to address roaming customers' needs in & out of the country, the number of customers roaming out of the country increased by 16% compared to Q2, and roaming customers in the country increased by 19% compared to Q2. This is as a result of the introduction of STC Data roaming package in more than 40 countries.