March 19, 2020 / 7:32 AM / 21 days ago

Bezeq Israel Telecom Q4 net loss narrows

TEL AVIV, March 19 (Reuters) - Bezeq Israel Telecom reported a sharply narrower net loss in the fourth quarter as it continued to be impacted by large write downs in its various subsidiaries.

Bezeq, Israel’s largest telecoms group, recorded a quarterly net loss of 5 million shekels ($1.3 million) compared with a 1.76 billion shekel loss a year earlier and analysts’ expectations in a Reuters poll of a 17 million shekel profit.

Revenue slipped 5.3% to 2.22 billion shekels.

Bezeq said it could not at this time publish an outlook for 2020 given the uncertainty surrounding the coronavirus outbreak.

“The company ... will consider, depending on the situation, the possibility of publishing a forecast for 2020, together with the publication of the results for the first quarter of 2020, if feasible,” it said.

$1 = 3.7803 shekels Reporting by Steven Scheer; Editing by Tova Cohen

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