28/10/2026 03:29 AST
UAE telecom operator etisalat on Tuesday reported record financial results for the first nine months of 2026, with net profit rising nearly 46 per cent year-on-year to Dh17.2 billion, as the company benefited from growing demand for advanced digital services, AI-related infrastructure and connectivity solutions.
The company said consolidated revenue for the January-September period reached Dh57.6 billion, up 10 per cent from a year earlier, while Ebitda increased 10.3 per cent to Dh26.7 billion, maintaining a healthy margin of 46.4 per cent.
Third-quarter revenue climbed 6.9 per cent year-on-year to Dh19.5 billion, while quarterly net profit surged to Dh11.2 billion. Part of that increase was supported by the completion of etisalat's sale of its entire stake in Vodafone Group, a transaction that generated total consideration of Dh21.9 billion, including a gain of around Dh8 billion and the final dividend.
Excluding the Vodafone gain, adjusted net profit for the first nine months stood at Dh9.2 billion, according to the company.
The results underscore how telecom operators are increasingly positioning themselves at the centre of artificial intelligence, cloud computing and digital transformation projects as governments and enterprises invest heavily in digital infrastructure.
etisalat's total subscriber base reached 254.8 million by the end of the third quarter, a 29.4 per cent increase from a year earlier. In the UAE, subscribers rose 5.2 per cent to 16.5 million, supported by demand for digital services and enhanced connectivity offerings.
"Our performance in Q3 2026 underscores the resilience of our business model and the discipline with which we are turning growth opportunities into tangible results," said Masood M. Sharif Mahmood, Group CEO of etisalat. He noted that revenue reached Dh19.5 billion while Ebitda climbed to Dh9 billion during the quarter.
The company is using its strong financial position to expand its role in AI infrastructure and digital services. Mahmood said etisalat has built capabilities across AI, cloud computing, cybersecurity, fintech and digital services that complement its core connectivity business.
"Today, as AI is integrated more deeply into core enterprise and government operations, the foundational connectivity, compute, and secure infrastructure powering it become more critical," he said.
As part of its long-term strategy, the operator plans to expand its international connectivity capacity to more than 500 terabits per second by 2030, more than 25 times current levels. The investment is aimed at supporting emerging technologies, low-latency digital services and the UAE's ambition to become a global hub for advanced technology and artificial intelligence.
The earnings announcement comes as etisalat marks its 50th anniversary and advances a renewed strategy centred on becoming an AI-powered telecommunications company, with connectivity, digital infrastructure and intelligent platforms forming the core of its future growth ambitions.
Khaleej Times
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