Bezeq Third-Quarter Comparable Profit Jumps 44% to NIS 372 Million

Bezeq, Israel's largest telecommunications group, reported on Wednesday morning, November 11, that its comparable net profit rose 44% in the third quarter of 2026 to NIS 372 million, from NIS 258 million a year earlier. Comparable EBITDA grew 8% to NIS 1.01 billion and core revenues rose 2.3% to NIS 2.04 billion, according to the results the company filed with the Tel Aviv Stock Exchange. The company said its comparable net profit "was driven by higher revenues and lower financing and operating expenses," helped among other things by the cancellation of a provision for the universal fiber fund. Excluding that cancellation, comparable EBITDA rose 5.2% and comparable net profit 36%. Free cash flow fell 25% to NIS 249 million, which Bezeq attributed to working-capital changes at Pelephone, including early-retirement payments. All three main subsidiaries grew. The fixed-line unit's comparable net profit rose 32% to NIS 283 million, and its fiber network reached 3.07 million homes with 1.1 million retail and wholesale subscribers. The television provider yes lifted revenue 15% to NIS 370 million, its highest quarterly revenue since the second quarter of 2018, and posted its highest comparable EBITDA since 2017 and comparable net profit since 2016. Pelephone's comparable net profit grew 19%, and the mobile operator signed an agreement to buy Wecom Mobile for NIS 265 million. Bezeq completed a NIS 100 million share buyback during the quarter, part of a multi-year NIS 800 million program, bringing its dividends and buybacks so far in 2026 to NIS 1.2 billion. It left unchanged the 2026 outlook it raised in August, for comparable EBITDA of NIS 3.8 to 3.85 billion and comparable net profit of NIS 1.15 to 1.2 billion. The company scheduled a conference call on the results for 16:30 Israel time on Wednesday.