Bezeq reports higher profit on lower revenue

Stella Handler
Stella Handler

The company attributed the fall in revenue to the performance of its mobile phone unit Pelephone.

Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ), controlled by Shaul Elowitz and managed by CEO Stella Handler has reported lower revenue but higher profit in its first quarter financial results. The telecom provider reported profit of NIS 463 million in the first quarter, slightly higher than profit of NIS 457 million in the corresponding quarter. However, revenue fell 6% to NIS 2.74 billion.

Bezeq attributed the fall in revenue, mainly to a fall in revenue at mobile operator Pelephone Communications Ltd., whereas revenue increased in the landline operation and at ISP and international call provider Bezeq International.

At Pelephone, net profit fell 67% to NIS 36 million, while revenue fell 21% to NIS 727 million. The company lost 21,000 subscribers during the quarter.

Published by Globes [online], Israel business news - www.globes-online.com - on May 21, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

Stella Handler
Stella Handler
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