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Israel's Partner Communications Q4 loss narrows, misses estimates
March 30, 2017 / 7:35 AM / 9 months ago

Israel's Partner Communications Q4 loss narrows, misses estimates

JERUSALEM, March 30 (Reuters) - Partner Communications , Israel’s second-largest mobile phone company, posted a narrower loss in the fourth quarter that fell short of expectations for a profit, as it continues to battle fierce competition in the sector.

Partner said on Thursday it lost 7 million shekels ($1.9 million) in the quarter, compared with a loss of 65 million shekels a year earlier when it was hit by an impairment charge.

Revenue slipped 18 percent to 821 million shekels.

Partner was forecast to earn 17 million shekels on revenue of 844 million shekels, according to a Reuters poll of analysts.

It lost 32,000 subscribers in 2016 to 2.686 million.

Partner said it was working on two projects aimed at creating new revenue streams and growth engines.

It plans to launch a TV service based on the Android TV operating system in the coming months while building a fibre-optic network and urged the telecoms regulator to help.

“The future progress of the project will depend, among other things, on the regulator’s assistance and the steps that it will take to ensure we will not be blocked in establishing a new and advanced infrastructure,” said Chief Executive Isaac Benbenisti.

$1 = 3.6191 shekels Reporting by Steven Scheer; Editing by Tova Cohen

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