Cellcom first quarter profit down 61%
The mobile carrier missed the analysts’ revenue and earnings per share consensus.
Regulation and competition in the mobile market are continuing to affect the financial results of Israel’s veteran carriers. Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) today published in financial report for the first quarter of 2013. The carrier missed the analysts’ revenue and earnings per share consensus.
Cellcom, run by CEO Nir Sztern, and a subsidiary of IDB Holding Corp. Ltd. (TASE:IDBH), controlled by Nochi Dankner, reported NIS 1.26 billion revenue for the first quarter, 20.6% less than for the corresponding quarter of 2012, and 12% less than the analysts’ consensus of NIS 1.43 billion.
Cellcom posted earnings per share of NIS 0.67 for the first quarter, missing the analysts’ consensus of NIS 1.05. The company posted a net profit of NIS 67 million for the first quarter, 61.3% less than for the corresponding quarter.
Published by Globes [online], Israel business news – www.globes-online.com – on May 13, 2013