By: Mohamed Idris

Riyadh - Mubasher: Saudi Telecom Company (STC) is supposed to announce its initial financial results for the first quarter of 2017 on 3 May, sources told Mubasher.

The Saudi Capital Market Authority (CMA) amended the set period for the initial result announcements from 15 to 30 days, so that the period set for the results of the first quarter of 2017 would be prolonged to 11 May.

Estimates of eight research firms showed that STC's net profits would decrease 6.86% year-on-year.