Shares of IHS Holding Limited (IHS), a shared telecommunications infrastructure operator, are rising more than 17% Tuesday morning after reporting better-than-expected revenue in the fourth quarter. The company's full-year revenue outlook also comes in above Street view.
Revenue for the quarter increased 26.6% year-on-year to $526.17 million. Analysts expected the company to report revenue of $486.84 million.
The company reported a loss of $272.8 million or $0.82 per share, wider than 73.13 million or $0.23 per share in the same quarter a year ago, primarily due to higher cost of sales as well as finance costs due to foreign exchange losses. The consensus estimate was for $0.04 profit per share.
Looking forward to the full year, the company expects revenue to be in the range of $2.19 billion- $2.22 billion. Analysts expect revenue of $2.09 billion for the year.
IHS, currently at $8.37, has been trading in the range of $4.91-$12.77 in the last 1 year.
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