Etisalats latest earnings report has the tech giant doing well, even as it struggles to get into the mainstream market.
The company posted $8.9 billion in revenue in the fourth quarter of 2017, up 12% from the year-ago period.
The increase came despite an overall decline in revenue.
In the first half of 2018, the company’s revenue grew at an average of 12.4%, but declined 11% year-over-year.
The company’s business, Etisalaton Mobile, is growing and is expected to generate revenue of $4.5 billion by the end of 2019, up 18% from last year.
The Etisalatos growth is expected partly to reflect the emergence of mobile fitness businesses like Fitbit, which have seen the likes of Google and Apple step in to fill the gap.
The Etisalataras revenue was $7.3 billion in the first quarter, up 9% from 2016.
It’s growing at a rate of 16% per year.
“We are really enjoying the ride, we are enjoying the opportunity.
But we’re in the middle of an exciting expansion,” CEO Hisham Al-Hajj told the company.
The expansion is helping Etisalator to grow its business, which is dominated by its business services business.
The revenue from its mobile products business grew 10% in the second quarter of this year, from $2.7 billion to $3.9 bn.
Its mobile marketing business also grew at a healthy clip, with revenues up 25% to $4 billion.
The business is growing at an annualized rate of 20%, according to the company, which said it expects the growth to continue into the third quarter of 2018.
Etisalater is hoping that it can bring its mobile devices business to the mainstream, as it continues to focus on the health and fitness sector.
It said that its growth in the third-quarter was driven by an increase in the adoption of the new Fitbit smartwatches.
The watch sales, which are now up 10% year over year, will help to drive the growth of the Etisalators mobile product portfolio, the CEO said.
“As we see our mobile business expanding, we have the opportunity to add more to that portfolio,” Al-Haajj said.
“Our mobile product sales, as well as our mobile marketing, are growing.
We have the ability to add to our portfolio.”
Etisalat also said that it is investing in a new platform, called Connect, which will allow its mobile phones to communicate with the Internet.
It said the company is now working on a smartphone and tablet that will be able to be connected to the Internet through the new platform.
The chief executive said that the company has launched a mobile payments service, ConnectPay, which it said will help Etisalatum to “offer more value to consumers and businesses” through payments.
“Etislat will also continue to expand our mobile offerings, including the launch of new product categories like fitness, nutrition, and beauty,” the CEO added.
“We are also launching an e-commerce platform, Connect, to allow customers to make payments directly to Etisalaters stores and businesses.
These platforms will also serve to accelerate the adoption and adoption of our services in the e-tailer and consumer space.”
The CEO said that Etisalating would continue to work on improving its infrastructure and the business model of the company so that it could compete with its competitors, including Google and Amazon.
He also said the Etilataras plans to take more initiatives to compete in the healthcare space.