Connect with us

Technology

e& announces Q3 2024 earnings with consolidated revenue growth of 10% to AED 14.4 billion

Published

on

e& completes acquisition of controlling stake in PPF Telecom and 100% acquisition of GlassHouse, expanding its footprint to 38 countries

ABU DHABI, UAE, Oct. 30, 2024 /CNW/ — e& today announced its Q3 2024 consolidated financial results, reporting consolidated revenue of AED 14.4 billion, growing 10 per cent year-over-year in constant currency, while consolidated revenues for the first nine months of year 2024 recorded AED 42.7 billion, growing 9 per cent YoY, reflecting continued growth across most verticals.

e& completed an important milestone by closing the transaction of PPF Telecom that will enhance the group portfolio diversification while it continues to grow its digital services across enterprise solutions, fintech, and media and entertainment sectors. This diversification will allow it to pursue its strategic ambition of transitioning to a global technology player.

e&’s total subscriber base witnessed a YoY increase of 6 per cent, reaching 177.3 million. The total number of e& UAE subscribers reached 14.7 million, representing a YoY growth of 5 per cent. 

Financial Highlights 

 

Q3 2024

Q3 2023

9M 2024

9M 2023

Revenue

AED 14.4 billion

AED 13.4 billion

AED 42.7 billion

AED 40.0 billion

Net Profit

AED 3 billion

AED 3 billion

AED 8.5 billion

AED 7.7 billion

EBITDA

AED 6.5 billion

AED 6.9 billion

AED 19.4 billion

AED 19.6 billion

Earnings per Share

AED 0.34

AED 0.34

AED 0.97

AED 0.88

 

Hatem Dowidar, Group Chief Executive Officer, e&, said: “e& continued its strong momentum in the first nine months, with consolidated revenue growing 9 per cent in constant currency to AED 42.7 billion.

We scaled up e&’s telecom footprint to 20 countries, bringing our overall reach to 38 markets. This growth, coupled with our solid performance in both local and international markets, drove our consolidated net profit to reach AED 8.5 billion growing 10 per cent during the first nine months. Furthermore, consolidated EBITDA reached AED 19.4 billion, resulting in EBITDA margin of 45 per cent, while our telecom EBITDA margin remained resilient at 49%”.

“Now that we have completed the acquisition of a controlling stake in PPF Telecom Group, we look forward to the opportunities that will arise as we expand our global horizon, impacting the lives of over 1 billion people across the Middle East, Asia, Africa, and now Central and Eastern Europe—marking our first operational foothold in Europe. By combining our expertise with PPF Telecom’s strong local presence, we’re well-positioned to drive digital transformation and empower societies across this region,” added Dowidar.

He concluded, “e& remains dedicated to championing the UAE’s leadership vision as the country continues to advance its digital agenda as a role model of digitalisation. Our investment in cutting-edge infrastructure and strategic partnerships will ensure that we continue to deliver futuristic solutions and digital services that drive sustainable progress and transformation.”

Media Contacts – Nancy Sudheer, Senior Manager at e&, nsudheer@eand.com 

Photo – https://mma.prnewswire.com/media/2544590/Hatem_Dowidar_e_GCEO.jpg
Photo – https://mma.prnewswire.com/media/2544591/e_Q3_Infographic_2024.jpg
Logo – https://mma.prnewswire.com/media/2458295/e_and_Logo.jpg

View original content to download multimedia:https://www.prnewswire.com/news-releases/e-announces-q3-2024-earnings-with-consolidated-revenue-growth-of-10-to-aed-14-4-billion-302291714.html

SOURCE e&

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

NetEase to Report Third Quarter 2024 Financial Results on November 14

Published

on

By

HANGZHOU, China, Oct. 31, 2024 /PRNewswire/ — NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, “NetEase” or the “Company”), a leading internet and game services provider, today announced that it will report financial results for the 2024 third quarter on Thursday, November 14, 2024, before the open of the U.S. markets.

The earnings teleconference call with simultaneous webcast will take place at 7:00 a.m. Eastern Time on Thursday, November 14, 2024 (Beijing/Hong Kong Time: 8:00 p.m., Thursday, November 14, 2024). NetEase’s management will be on the call to discuss the quarterly results and answer questions.

Interested parties may participate in the conference call by dialing 1-914-202-3258 and providing conference ID: 10042941, 15 minutes prior to the initiation of the call. A replay of the call will be available by dialing 1-855-883-1031 and entering PIN: 10042941. The replay will be available through November 21, 2024.

This call will be webcast live and the replay will be available for 12 months. Both will be available on NetEase’s Investor Relations website at http://ir.netease.com/.

About NetEase, Inc.

NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, “NetEase”) is a leading internet and game services provider centered around premium content. With extensive offerings across its expanding gaming ecosystem, the Company develops and operates some of the most popular and longest running mobile and PC games available in China and globally.

Powered by one of the largest in-house game R&D teams focused on mobile, PC and console, NetEase creates superior gaming experiences, inspires players, and passionately delivers value for its thriving community worldwide. By infusing play with culture, and education with technology, NetEase transforms gaming into a meaningful vehicle to build a more entertaining and enlightened world.

Beyond games, NetEase service offerings include its majority-controlled subsidiaries Youdao (NYSE: DAO), an intelligent learning company with industry-leading technology, and Cloud Music (HKEX: 9899), a well-known online music platform featuring a vibrant content community, as well as Yanxuan, NetEase’s private label consumer lifestyle brand.

For more information, please visit: http://ir.netease.com/.

Contact for Media and Investors:

Investor Relations
Email: ir@service.netease.com
Tel: (+86) 571-8985-3378

View original content:https://www.prnewswire.com/news-releases/netease-to-report-third-quarter-2024-financial-results-on-november-14-302292600.html

SOURCE NetEase, Inc.

Continue Reading

Technology

Youdao to Report Third Quarter 2024 Financial Results on November 14

Published

on

By

HANGZHOU, China, Oct. 31, 2024 /PRNewswire/ — Youdao, Inc. (“Youdao” or the “Company”) (NYSE: DAO), an intelligent learning company with industry-leading technology in China, today announced that it will report its third quarter 2024 financial results on Thursday, November 14, 2024, before the open of the U.S. markets.

The earnings teleconference call with simultaneous webcast will take place at 5:00 a.m. Eastern Time on Thursday, November 14, 2024 (Beijing/Hong Kong Time: 6:00 p.m., Thursday, November 14, 2024). Youdao’s management will be on the call to discuss the quarterly results and answer questions.

Dial-in details for the earnings conference call are as follows:

United States (toll free):

+1-888-346-8982

International:

+1-412-902-4272

Mainland China (toll free):

400-120-1203

Hong Kong (toll free):     

800-905-945

Hong Kong:

+852-3018-4992

Conference ID:

4892369

A live and archived webcast of the conference call will be available on the Company’s investor relations website at http://ir.youdao.com.

A replay of the conference call will be accessible by phone one hour after the conclusion of the live call at the following numbers, until November 21, 2024:

United States:               

+1-877-344-7529

International:

+1-412-317-0088

Replay Access Code:

4892369

About Youdao, Inc. 

Youdao, Inc. (NYSE: DAO) is an intelligent learning company with industry-leading technology in China dedicated to developing and using technologies to provide learning content, applications and solutions to users of all ages. Building on the popularity of its online knowledge tools such as Youdao Dictionary and Youdao Translation, Youdao now offers smart devices, STEAM courses, adult and vocational courses, and education digitalization solutions. In addition, Youdao has developed a variety of interactive learning apps. Youdao was founded in 2006 as part of NetEase, Inc. (NASDAQ: NTES; HKEX: 9999), a leading internet technology company in China.

For more information, please visit: http://ir.youdao.com.

For investor and media inquiries, please contact:

In China:

Jeffrey Wang
Youdao, Inc.
Tel: +86-10-8255-8163 ext. 89980
E-mail: IR@rd.netease.com 

Piacente Financial Communications
Helen Wu
Tel: +86-10-6508-0677
E-mail: youdao@thepiacentegroup.com 

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: youdao@thepiacentegroup.com

View original content:https://www.prnewswire.com/news-releases/youdao-to-report-third-quarter-2024-financial-results-on-november-14-302292446.html

SOURCE Youdao, Inc.

Continue Reading

Technology

Countdown Begins: Limited Time to Secure Exclusive Rewards with Grey HAT ICO

Published

on

By

The Grey HAT token can transform crypto trading by offering exclusive rewards. It also focuses on discounts on trading transactions. It can also offer multiple opportunities to both investors and crypto traders.

CAMDEN, Del., Oct. 31, 2024 /PRNewswire-PRWeb/ — The countdown for Grey HAT ICO has begun for over a month now. Now there is limited time to secure the tokens to earn passive income. The ICO ends in the next one and a half months. The total token supply is limited to nearly 1,000,000,000 or 1 Billion. The token price during this phase will be $0.10. Therefore, the users should hurry up and get the token to gain maximum benefits at the earliest.

We are glad with the response of the users to join our ICO. Now there is limited time and I urge more people to join our ICO to gain maximum rewards and prizes. The rewards and bonuses are encouraging and you can gain a lot through passive income”.

The users can also gain considerably by contributing positively to the security and stability of the network. The investment in the HAT token offers several rewards and discounts on trading fees. The limited time can make transactions more cost-effective. Currently, users can contribute to the stability and security of the network while dealing with traditional payment methods. Grey Hat users who will invest in the token will also get exclusive access to Grey HAT communities. This can be advantageous because it can help in connecting with like-minded individuals. Over 1000 investors have already invested in the first month.

The Grey HAT offers users the scope to earn through staking. Faster payment is another major advantage as it enables peer-to-peer instantaneous payments, reduces delays, and eliminates delays associated with traditional payment methods. It is also true that token users do not require intermediaries at all. Moreover, as users, they can become supporters of the project and gain access to exclusive benefits then they can also win discounts on token prices and get surplus rewards. Therefore, join the HAT token revolution now. Participating in the ICO is very simple. Just sign up and follow the instructions carefully.

Gary Groves, the co-founder and CEO of Grey HAT states that “we are glad with the response of the users to join our ICO. Now there is limited time and I urge more people to join our ICO to gain maximum rewards and prizes. The rewards and bonuses are encouraging and you can gain a lot through passive income”.

About Grey HAT:

Grey HAT platform offers HAT Token. The token HAT is created to facilitate smooth transactions and represents the company’s stake for economic purposes. The token has reached particular significance as it is now the top crypto ICO to watch out for this year. The company’s major aim is to fundraise projects through an initial coin offering (ICO). The tokens can be used for investments and storing value. The company wants to encourage individuals and new businesses to offer a convenient, safe, and traceable platform to trade with cryptocurrencies.

Media Contact

Vagrant, Grey HAT, 1 832-899-5111, vagrant@grey-hat.io, https://ico.grey-hat.io/

View original content to download multimedia:https://www.prweb.com/releases/countdown-begins-limited-time-to-secure-exclusive-rewards-with-grey-hat-ico-302291367.html

SOURCE Grey HAT

Continue Reading

Trending