Bezeq Chairman Predicts No Slowdown in Fourth Quarter
Translated & summarized from Ice by baba
Bezeq Group Chairman Tomer Raviv expressed optimism, predicting no fourth-quarter slowdown after the company reported a 44% rise in net profit to NIS 372 million. Bezeq's CEO, Nir David, highlighted the use of AI in customer service and projected continued growth in fiber optic services. The CEO of Pelephone and yes, Ilan Sigal, noted significant growth for Pelephone and a successful turnaround for yes, attributing it partly to a strategic deal with Partner.
The story in 5 lines · by baba
- Bezeq Group reported a 44% net profit increase to NIS 372 million in the third quarter.
- Chairman Tomer Raviv expects no slowdown in the fourth quarter.
- CEO Nir David noted 3 million calls handled by AI agents in Bezeq's customer service.
- Pelephone saw a 19% net profit increase, with 70% of customers on 5G.
- The company yes has achieved three consecutive quarters of profit after years of losses.
Tomer Raviv, Chairman of the Bezeq Group, stated that the company does not anticipate any slowdown in the fourth quarter, following a strong third quarter. Bezeq reported a 44% surge in net profit to NIS 372 million, with revenues rising 1.2% to NIS 2.17 billion compared to the same period last year. The company's stock saw a 2.15% increase on the Tel Aviv Stock Exchange in response to the financial reports.
Raviv attributed the positive results to the group's successful strategy, noting that Bezeq had already revised its forecasts upward in August and feels confident about them. He highlighted Bezeq's expansion through acquisitions like WECOM and a server farm in Petah Tikva, aimed at meeting the demand for data and AI in the business sector. Raviv also emphasized Bezeq's role in establishing Israel as a regional communication hub by investing hundreds of millions of shekels in terrestrial and subsea cables to connect Europe and Asia.
Nir David, CEO of Bezeq, discussed the integration of AI agents in customer service centers, revealing that 3 million calls have been handled by digital agents since the beginning of the year. These AI agents perform tasks typically handled by human representatives, such as scheduling technicians and processing payments. Regarding the competitive fiber optic market, David projected continued growth in revenue per user (RPU) through 2029, anticipating that customers will receive additional services over the fiber infrastructure.
David also pointed to cloud services and business solutions as critical growth areas for Bezeq, driven by organizations moving servers out of their premises due to power, space, and location constraints. This trend is creating significant demand for connectivity and bandwidth.
Ilan Sigal, CEO of Pelephone and yes, reported that Pelephone experienced growth across all metrics, with a 19% increase in net profit. He noted that 70% of Pelephone customers have transitioned to 5G, and their 5G MAX offering has 260,000 subscribers, with an RPU of NIS 95. Sigal also confirmed the successful turnaround at yes, which has reported profits for three consecutive quarters after years of losses. He credited the strategic partnership with Partner for enhancing yes's revenue and profitability.
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