Ooredoo profit rises to $274m as revenue up 6%

Qatari telecoms company Ooredoo Group said net earnings attributable to shareholders rose in the first three months of 2026, supported by revenue growth in five Middle Eastern countries.

Net profit increased by 5 percent annually to more than QR1 billion ($274 million) after revenue rose 6 percent year on year to QR6 billion, supported by strong contributions from Algeria, Tunisia, Qatar, Iraq and Kuwait.

The growth was underpinned by rising demand for connectivity and data, the telco said in a statement.

Ooredoo’s customer base grew by 2 percent year to year to nearly 54 million. The company invested QR608 million in capital expenditure in the first three months, a 13 percent year-on-year increase, driven by targeted network investments across markets such as Algeria, Iraq and Tunisia.

Cash reserves stand at QR12.8 billion, with QR6 billion available in undrawn facilities.

Chairman Sheikh Faisal Bin Thani Al Thani said shareholders have approved the board’s proposal to pay a cash dividend of QR0.75 per share.

“Parts of the region continued to face heightened uncertainty, and in such an environment, reliable connectivity becomes ever more essential for customers, businesses and communities,” he said.

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Ooredoo Group said 2026 guidance remains unchanged, although it is closely monitoring the evolving regional environment.

“Core telecom demand has proven resilient to date. We remain confident in our ability to navigate the current environment,” the statement said.

The stock, which trades on the Qatar stock exchange, closed 1.3 percent higher at QR13.76 on Wednesday. The share is up 6 percent year to date.

Qatar Holding owns a 68 percent stake in Ooredoo, while Abu Dhabi Investment Authority (Adia) holds a 5 percent stake.