Business Services Industry
Bezeq's profits dive 40%.(Bezeq The Israel Telecommunications Corp., third quarter 1994)
Israel Business Today, December, 1994
Bezeq The Israel Telecommunications Corp. finished its third quarter with net profits of $37.8 million, a decrease in comparison to last year's third quarter profits of $62.7 million. Revenues for this period fell by 12 percent, from $483 million last year to $433 million this year. For the first nine months of 1994, Bezeq's net profits amounted to $57.5 million -- a significant drop from $108.5 million in the corresponding period of last year. Revenues for the same period also fell by $23.3 million from last year.
The Israeli economic daily Globes attributes Bezeq's profit dive to three causes. Bezeq's services resulted in lower revenues. Bezeq lowered its rates over the last year, and the cost to the company of overseas calls has increased. Therefore, even...
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