logo
Share SHARE
FONT-SIZE Plus   Neg

Cellcom Israel Q2 Profit Dips - Quick Facts

Cellcom Israel Ltd.(CEL) Monday reported a decrease in second-quarter net income, primarily due to the result of erosion in the price of cellular services during the past year, as well as the significant decrease in equipment revenues.

For the three-month period, the company reported net income of NIS 67 million or $19 million, a 44.6 percent decrease from NIS 121 million or $33 million last year. On a per share basis, earnings were NIS 0.66, compared with NIS 1.22 per share last year.

Revenues decreased 17.5 percent to NIS 1,236 million or $342 million, compared with NIS 1,498 million or $414 million a year ago. The company said the decrease in revenues is mainly attributable to lower service revenues.

The monthly cellular Average Revenue per User totaled NIS 79.7 or $22 compared with NIS 90.3 or $25 during the same period last year. Cellular subscriber base totaled about 3.151 million subscribers, the company said in a statement.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Major League Baseball is talking expansion for the first time in a few decades. Owners stand to make a pretty penny from expansion fees and subsequent television rights. The possibility of a more balanced schedule is also enticing. Strong expansion candidates in the U.S. and Canada are ready... The New York Times is teaming up with Google again to give away Google Cardboard, the virtual reality headsets, but this time only to its "most loyal" digital subscribers. The company said that the digital-only subscribers selected for this distribution were chosen based on the duration of their subscriptions. Oil company Exxon Mobil Corp. on Friday reported a 63 percent fall in profit for the first quarter from last year, while Chevron Corp. reported a loss for the quarter, both on lower revenues. The results were impacted by the fall in crude oil prices and weaker refining margins. However, Exxon Mobil's earnings beat analysts' estimates, while Chevron's loss was wider than their expectations.
comments powered by Disqus
Follow RTT