Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

NII Holdings Swings To Loss In Q4

RELATED NEWS
Trade NIHD now with 

NII Holdings Inc. (NIHD: Quote) the company that provides wireless communication services under the Nextel brand name, Thursday posted a loss for the fourth quarter particularly on the back of increased impairment and restructuring charges.

For the period, the company posted net loss of $592.9 million versus a profit last year of 3.2 million. On a per share basis, loss stood at $3.45 compared with a profit of $0.02 a year ago.

Ten analysts on average polled by Thomson Reuters estimated loss per share of $1.21 for the quarter. Analyst estimates typically exclude one-time items.

Operating loss for the fourth quarter reflects one-time charges associated with NII Holdings's actions to improve its subscriber base in Brazil and a $299 million non-cash asset impairment charge to write down the value of its assets in Chile, said the company in a statement. Impairment and restructuring charges for the three months totaled $306.5 million versus nil last year.

Operating revenue for the period slipped to $1.465 billion from $1.599 billion for the corresponding period last year, mainly dragged down by service and other revenues. Analysts were hoping for higher revenues of $1.50 billion.

For the three months, the company said it added about 2,000 net subscribers to its network, which reflects the impact of its decision to accelerate the deactivation of unprofitable customers in Brazil, which resulted in a 292,000 net subscriber loss in Brazil for the quarter.

Register
To receive FREE breaking news email alerts for NII Holdings Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Consumers spent less in July than in the previous month, a surprise retreat that complicates the prevailing belief that the U.S. economic situation is improving. Along with the unexpected drop in spending, government figures released on Friday showed that incomes rose at a slower pace in July than in the previous month. Meanwhile, data on prices indicated that inflation pressures remain tame. India's economy grew faster-than-expected in the three months to June and at the strongest pace in two years, preliminary figures from the Central Statistics Office revealed Friday. Gross domestic product grew 5.7 percent in the April to June quarter, which exceeded economists' forecast for 5.5 percent expansion. The economy grew 4.6 percent in the previous three months. Eurozone inflation slowed as expected in August on falling energy prices giving room for the central bank to support demand and economic recovery without stoking inflation and help the region to create more jobs. The unemployment rate remained unchanged at an elevated level in July. Nonetheless, it was at the lowest since September 2012.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.