Bezeq reported revenue of NIS 2.250 billion in the second quarter of 2014, down 4.3% from NIS 2.351 in the corresponding quarter of 2014. However operating profit jumped 65.9% to NIS 1.234 billion in the second quarter from NIS 744 million in the corresponding quarter of 2013.

Bezeq Chairman Shaul Elovitch said, “Thanks to the diversity of our operations, we continue to demonstrate financial and operational strength despite increased competition. We will maintain our focus on developing infrastructure and state-of-the-art communications services by investing approximately NIS 1.3 billion annually to optimally position Bezeq to meet the technological, commercial, and regulatory changes affecting the market.”

Some of the rise in profit was attributable to the sale of the YAD2 website to Axel Springer for NIS 806 million.

Landline revenue in the second quarter of 2014 was NIS 1.07 billion, down 4.3% from NIS 1.12 billion in the corresponding quarter of 2013. Profit was NIS 471 million down 7.6% from NIS 510 million in the corresponding quarter of 2013.

Pelephone Communications Ltd. revenue decreased 2.4% sequentially to NIS 622 million compared with NIS 637 million in the previous quarter, and NIS 696 million in the corresponding quarter of 2013, a decrease of 10.6%.

The cellular operator’s profit in the second quarter of 2014 rose 0.8% sequentially to NIS 127 million compared with NIS 126 million in the previous quarter and NIS 186 million in the corresponding quarter of 2013, a decrease of 31.7%.

Published by Globes [online], Israel business news - www.globes-online.com - on August 7, 2014