e& operates in 38 countries across the Middle East, Africa, Asia, and Europe, with a total subscriber base of 202.2 million. Revenue rose 25.3% year-on-year in the first nine months of 2025 to $14.6 billion, while net profit increased 60.4% to $3.6 billion. The Emirates Investment Authority owns a 60% stake in e&. In March 2025, the group sold its 40% stake in Khazna for $2.2 billion, realising a $1.4 billion pre-tax capital gain.