Bezeq reports higher profit on lower revenue

Bezeq Photo: PR

All four Bezeq divisions: landlines, mobile phones, satellite TV, and internal calls and ISP saw revenue fall.

Despite reporting a 4.5% fall in revenue in the first quarter of 2019 to NIS 2.25 billion, Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) saw net profit rise 15% to NIS 300 million on reduced expenditure.

Bezeq, which saw its share price fall 7% yesterday to the lowest point since 2013, on concerns about the financial results, which did not materialize, saw its share price recover somewhat by 3% today.

Landline operations saw a 2% fall in revenue in the first quarter to NIS 1.05 billion but enjoyed a one-time income from real estate. Mobile operations through Pelephone Communications Ltd. saw revenue fall 7% to NIS 578 million. Yes satellite TV station saw its revenue fall 9% to NIS 343 million. Bezeq International saw its revenue from international calls and as an Internet Service Provider (ISP) fall 3% to NIS 341 million.

Published by Globes, Israel business news - en.globes.co.il - on May 30, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Bezeq Photo: PR
Bezeq Photo: PR
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