Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) today published its results for the third quarter of the year, with net profit down just over 50% to NIS 26 million.
Revenue was steady at NIS 822 million, while gross profit fell 18% to NIS 165 million and operating profit plummeted 50% to NIS 48 million. Partner has 118,000 television subscribers. The company's fiber-optic infrastructure deployment reaches over 250,000 households.
Partner's net profit in the first nine months of the year totaled NIS 37 million, down nearly 80%, compared with NIS 164 million in the corresponding period last year.
Partner's revenue in the first nine months of the year remained stable at NIS 2.4 billion, but its gross profit and operating profit were smaller than in the corresponding period last year.
The company's average monthly revenue per mobile user (ARPU) in the third quarter was off 6% to NIS 60. The number of Partner's mobile subscribers dipped 1% to 2.65 million.
Partner's share price fell 15% this year, pushing its market cap down to NIS 3 billion.
Published by Globes, Israel business news - en.globes.co.il - on November 21, 2018
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