Bezeq The Israel Telecommunication Corporation Limited (BZQIY)

Israel's Bezeq Telecom sees benefits from AI as posts flat Q1 profit

JERUSALEM (Reuters) -Bezeq Israel Telecom reported flat quarterly profit on Wednesday, and said it expects to reap benefits from an exponential expansion of data created by artificial intelligence (AI) platforms through more lucrative fibre optics growth. Bezeq, Israel's largest telecoms group, said it earned 321 million shekels ($88.5 million) excluding one-time items in the first quarter, versus 322 million a year earlier, partly hamstrung by a sharp drop in net income at its mobile phone unit Pelephone. Revenue rose 2.4% to 2.31 billion, its highest quarterly revenue level since 2018, it said, driven by high demand for broadband internet.