real-time news and commentary for investors
Wednesday, Aug 28
Partner Communications slides PM on Q2 results
- Shares of Partner Communications (PTNR) are down 1.4% PM following the company's Q2 results.
- Opex fell 16% Y/Y to $241M, lagging revenue decline of 21% to $312M.
- Adjusted EBITDA fell 34% Y/Y to $77M. EBITDA margin slid 5% to 25%.
- FCF of $79M fell 8% Y/Y.
- Cellular ARPU slid 18% Y/Y to $23. Cellular subscriber base was down 6% Y/Y to 2.92M. Price erosion is attributed by management to "increased competition due to the entry of ... new operators and MVNOS." (PR)
- PTNR has been under pressure this week as the Syrian situation escalates and after rival Cellcom reported depressed Q2 results last week. The stock is down 14.5% in the last week but remains up 16.5% YTD.