Partner Communications Q1 Profit Up, Revenues Down

(RTTNews) - Israel-based communications company Partner Communications (PTNR) said its profit for the first quarter surged nearly 70 percent to NIS 52 million, resulting from improved EBITDA and lower finance costs, net. Basic earnings per share or ADS rose to NIS 0.33 from NIS 0.20.

In U.S. dollar terms, net income totaled $15 million and basic earnings per share was $0.10.

Total revenues for the first quarter slid 4 percent to NIS 1.103 billion. Service revenues slid 9 percent to NIS 876 million, but Equipment revenues grew 24 percent to NIS 227 million, on increases in the average unit price and number of unit sales.