Israel’s Bezeq Telecom to reach 1 million homes with fibre optic in 2021

JERUSALEM: Bezeq Israel Telecom reported lower quarterly profit on Wednesday and said it was advancing a plan to merge two business units to cut costs and ramping up deployment of a fibre-optics network.

Bezeq, Israel’s largest telecoms group, earned 299 million shekels ($92 million) in the first quarter excluding one-time items such as a 125 million shekel capital gain from the sale of real estate, compared with 325 million shekels a year earlier.

Revenue rose 1.6% to 2.2 billion shekels, boosted by a 3.5% gain in internet and cloud and digital services revenue.