Bezeq Returns to Profitability

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Bezek

After a massive write off in the last quarter, Bezeq returned to profitability in the third quarter of 2019. Bezeq recorded a profit of NIS 191 million in Q3, which is down 18% from the third quarter of 2018. Overall income was down 2% year-over-year, bringing in NIS 2.25 billion. Income for the first three quarters of 2019 was down 4%, garnering NIS 6.7 billion. Bezeq continues to lose landline customers, with 25,000 landline cancellations this quarter. Of course, this is no surprise, as most people have replaced their landlines with cell phones. Bezeq is also losing internet customers, which also comes as no surprise, since it is the only providers not offering high-speed internet of some sort. Including the write-downs, for the first three quarters of the year, Bezeq lost NIS 1.1 billion, after reporting a profit of NIS 700 million in the first three quarters of 2018.

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