Partner Communications Quarterly Profit Rises

Israel's Partner Communications

reported a gain in its third-quarter profit. Partner Communications posted its quarterly earnings of 40 million shekels ($10.5 million), compared to 38 million shekels, in the year-ago period. Its earnings per share rose to 0.26 NIS from 0.24 NIS. Its revenue dropped 1% to 1.10 billion shekels. However, analysts were expecting earnings of 46 million shekels on of 1.08 billion shekels. Service revenue shrank 9% to 862 million NIS, while cellular ARPU dropped 10% to 76 NIS. Partner Communications shares fell 4.48% to close at $6.19 yesterday.