May 28, 2019 / 6:22 AM / 6 months ago

Israel's Cellcom swings to Q1 loss, revenue slips

TEL AVIV, May 28 (Reuters) - Israel’s largest mobile phone operator Cellcom said on Tuesday it moved to a loss in the first quarter as it faced intense competition in the cellular sector.

Cellcom posted a net loss of 16 million shekels ($4.4 million) in the quarter, compared with a net profit of 7 million a year earlier, while revenue slipped 0.5 percent to 928 million shekels.

Analysts, on average, forecast a loss of 15.67 million shekels on revenue of 907 million, according to a Reuters poll. ($1 = 3.6074 shekels) (Reporting by Ari Rabinovitch; Editing by Tova Cohen)

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