Israel's Bezeq Q3 profit up, raises full year outlook

Israel Materials 30 November 2021 17:49 (UTC +04:00)

Bezeq Israel Telecom reported on Tuesday an increase in adjusted net profit in the third quarter, and the company said it was focusing on an accelerated deployment of fiber optics to be its main growth engine, Trend reports with reference to Reuters.

Bezeq, Israel's largest telecoms group, said it earned 295 million shekels ($93 million) in the third quarter excluding one-time items, compared with 290 million shekels a year earlier. Revenue slipped 1.7% to 2.14 billion shekels.

The company said its fibre network, launched less than a year ago, now reaches one million households.

It raised its 2021 outlook for adjusted net profit to 1.1 billion shekels, up from a previous 1.0 billion shekels, as well as adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) to 3.65 billion shekels, up from a previous 3.5 billion shekels.