Partner Communications earnings slip in Q3 [Seeking Alpha]
Partner Communications Company Ltd. - American Depositary Shares, each representing one ordinary share (PTNR)
US:NASDAQ Investor Relations:
partner.co.il/ir-en
Company Research
Source: Seeking Alpha
Partner Communications (NASDAQ: PTNR ) faced flat revenues and declining earnings in its Q3 results, though it pointed to highlights in its growth engines. Profit was more than halved, to 26M shekels (about $7M) from 54M shekels. EBITDA fell 16% to 201M shekels. The company pointed to a 13th quarter of postpaid gains -- net adds of 11,000, with ARPU up and churn down -- but overall cellular subscriber base declined by 1%, to 2.65M, and ARPU fell 6%, to 60 shekels (about $17). Meanwhile, CEO Isaac Benbenisti focused on gains in TV and fiber-optic. The TV subscriber base rose by 92,000 households to hit 106,000. And the Partner Fiber infrastructure reaches more than 250,000 households, he says; the launch has shattered in record time the technological stagnation imposed on the Israeli consumer by the fixed line monopoly. Revenue breakout: Service, 654M shekels (up 5.5%); Equipment, 168M shekels (down 5.1%). Net debt was 898M shekels (about $248M), up 11M shekels
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