Seeking Alpha

Israeli carrier Cellcom (CEL -5%) dives after missing Q1 estimates, and takes rival Partner...

Israeli carrier Cellcom (CEL -5%) dives after missing Q1 estimates, and takes rival Partner (PTNR -4.3%) down with it. An intense price war sparked by the arrival of 6 new carriers led Q1 revenue to fall 20.6% Y/Y, and the company's subscriber base to fall 5.7% Y/Y to 3.17M. The slump has led Cellcom to suspend its dividend. It expects revenue to fall again in Q2, albeit at a "more moderate rate than experienced in previous quarters." Meanwhile, financing costs are expected to rise, thanks to high inflation. SG&A spend fell 18% Y/Y in Q1, as Cellcom continues reaping synergies from its 2011 merger with NetVision. (transcript)
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector