Dubai-based telecommunications group Etisalat reported a consolidated net profit of AED 11.2 billion in the third quarter of 2026. It is boosted by the sale of its entire stake in Vodafone Group. Revenue growth and an expanding subscriber base also supported its operating performance.
The company's revenue increased 6.9% year-on-year to AED 19.5 billion in the July-September quarter. Revenue for the first nine months rose 10% to AED 57.6 billion, while net profit for the January-September period climbed 45.9% to AED 17.2 billion.
The Vodafone transaction generated AED 21.9 billion in total consideration, including the final dividend. It also produced a gain of approximately AED 8 billion, contributing significantly to the quarterly profit.
Etisalat's earnings before interest, taxes, depreciation and amortization (EBITDA) rose 5.1% year-on-year to AED 9 billion in the third quarter. Its EBITDA margin reached 46.1%. For the first nine months, EBITDA increased 10.3% to AED 26.7 billion, with a margin of 46.4%.
The group's global subscriber base grew 29.4% year-on-year to 254.8 million. In the UAE, the number of subscribers increased 5.2% to 16.5 million.
“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.
As it marks its 50th anniversary, etisalat is expanding its focus on artificial intelligence, cloud computing, cybersecurity and digital infrastructure.
The company plans to increase international connectivity capacity to more than 500 terabits per second by 2030. This represents an expansion of more than 25 times its current capacity and is intended to support rising demand for AI-powered services.
“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,” Mahmood said.
The strategy seeks to combine telecommunications with cloud services, cybersecurity and fintech. Etisalat aims to strengthen its position in digital infrastructure while continuing to develop its core connectivity business.
Also Read: Etisalat Returns as e& Embraces New AI-Focused Strategy