Bezeq reports Q1 2021 28% jump in profit

Gil Sharon Photo: Tamar Matsafi

Net profit in the first quarter of 2021 was NIS 408 million, up 24.8% from the corresponding quarter of 2020.

Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) has reported revenue of NIS 2.22 billion in the first quarter of 2021, up 1.6% from the first quarter of 2020. The company attributed the rise in revenue to an improvement in landline and online activities, which offset a fall in revenue for TV provider Yes.

Net profit in the first quarter of 2021 was NIS 408 million, up 24.8% from the corresponding quarter of 2020, and operating profit was Nis 586 million, up 27.7%.

Bezeq chairman Gil Sharon said, "The Group is marching forward with strong business results and the accelerate building of infrastructures for future growth. Growth in revenue and EBITDA and the deployment of fiber optics to 480,000 households, together with strong cash flow and debt reduction, creates the infrastructure for future growth. The Bezeq Group's financial results for the first quarter of 2021 reflect the strong performance of Bezeq landlines, which grew 3.5% in revenue, compared with the corresponding quarter, alongside the continued streamlining of the subsidiaries.

Published by Globes, Israel business news - en.globes.co.il - on May 26, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Gil Sharon Photo: Tamar Matsafi
Gil Sharon Photo: Tamar Matsafi
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018