Steven Scheer
3 minute read
The logo of Partner, an Israeli communication firm, is seen on their headquarters in Rosh Ha ayin near Tel Aviv, Israel June 21, 2016. REUTERS/Amir Cohen
Israeli telecoms group Partner Communications (PTNR.TA) posted a 50% decline in first-quarter net profit and said it expected the negative impact from the coronavirus pandemic to continue in the second quarter, while its internet and TV services grow.
Partner , Israel s second-largest mobile operator, said on Wednesday it earned 5 million shekels ($1.5 million) in the January-March period, down from 10 million a year earlier when it had a one-time gain of 20 million shekels.
Revenue gained 3% to 833 million shekels, returning to pre-pandemic levels, boosted by a rapid roll-out of a fibre optics network and growth in overall internet and TV customers.
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