How are Israeli phone companies doing? Second quarter reviews are out

The communications industry experienced positive results in the second quarter after years of losses. Here are the numbers.

bezeq 248.88 (photo credit: Ariel Jerozolimksi)
bezeq 248.88
(photo credit: Ariel Jerozolimksi)

Telecommunications giant Bezeq earned NIS 310 million in the second quarter, an increase of 2% compared to the corresponding period, the company announced.

Overall, revenues increased by 1.1% to NIS 2.23 billion while the new fiber network has been made available to 1.36 million households, with 180,000 customers now connected to it.

How much money are we talking? 

Bezeq CEO Ran Guran, the former CEO of Pelephone, pointed out that the company earned NIS 46 million in the quarter, an increase of 130%. The company ended the halfway mark with a profit of NIS 102 million, compared to NIS 28 million last year. 

Revenues increased in the quarter by 4% to NIS 599 million and in the first half of the year by 4.6% to NIS 1.2 billion. The average income per customer increased from NIS 55 to NIS 58.

 Illustration photo of the Yes company offices and satellite dishes, on October 28, 2019. (credit: SRAYA DIAMANT/FLASH90) Illustration photo of the Yes company offices and satellite dishes, on October 28, 2019. (credit: SRAYA DIAMANT/FLASH90)

YES closed out the second quarter of 2022 with NIS 632 million in revenue, similar to half of 2021, with a rise in subscribers. It ended the quarter with a profit of NIS 2 million compared to NIS 18 million in the corresponding period, and the half-year mark with a profit of NIS 12 million compared to NIS 18 million. 

The company will distribute a dividend of NIS 294 million. Guran and chairman Gil Sharon said that the results matched the expectations of their strategic plan. According to them, company revenue grew, and profit and cash flow improved. 

Now, company debt can be reduced by a billion shekels.

Cellcom, managed by Daniel Sapir, went from a loss of NIS 14 million to a profit of NIS 39 million in the second quarter. Revenues amounted to NIS 1.07 billion, similar to the corresponding period. The average profit per subscription amounted to NIS 49 per month.