Israeli telco Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) saw a continued fall in its mobile phone operations in the first quarter of 2018 with growing TV revenue failing to fully compensate for the shortfall. Revenue in the first quarter was NIS 933 million, down 2.7% from NIS 959 million in the corresponding quarter of 2017. Net profit for the first quarter of 2018 was NIS 7 million, down 73.1% from NIS 26 million in the first quarter of 2017. EBITDA totaled NIS 180 million compared with NIS 201 million in the first quarter last year, a decrease of 10.4%. RELATED ARTICLES Xfone snatches 13,000 subscribers from rivals Cellcom defies Netflix on refund offer Cellcom raising NIS 470m Cellcom CEO Nir Sztern said, "The strong growth trend of the fixed line segment also continued in this quarter. Fixed line segment revenues grew by approximately 9% compared to the first quarter of 2017 and the EBITDA from this segment reached NIS 68 million (61.9% growth from the same quarter last year). We continued to broaden our TV services, adding 14,000 new subscribers to our service in the first quarter of 2018." Published by Globes [online], Israel business news - www.globes-online.com - on May 30, 2018 © Copyright of Globes Publisher Itonut (1983) Ltd. 2018
