Partner Communications Company Ltd (NASDAQ: PTNR) shares rose on reporting a Q3 profit of $15 million on revenue of $234 million.
The Israeli-based company also reported Monday profit for the quarter of $15 million U.S., an increase of 184%. The revenue figure was actually down 3% from the prior-year quarter.
Partner CEO Isaac Benbenisti declared “"Our strong entrance to the TV market, together with our significant presence in the internet and cellular markets, establishes Partner as a comprehensive communications group. The customer recruitment figures for Partner TV are high compared to our preliminary forecasts.
"In the last month, the sales rate has increased even more and the number of daily installations has accelerated compared to the period from August through October. In less than a month, we have completed installations in 10,000 additional households and currently the number of households that are already connected to the Partner TV service is approximately 30,000.”
The Partner press release from Monday goes on to say the company’s optic fibers have already reached tens of thousands of households throughout the country, and Partner is working to deploy further at an accelerated rate in several cities simultaneously.
"In complete alignment with the Ministry of Communications and other regulatory bodies, we will continue to offer the most advanced technology with an attractive value offering to more and more customers.”
Shares in Partner vaulted 45 cents, or 8.9%, to $5.52, within a 52-week trading range of $4.50 to $6.41.
