Millicom International Cellular S.A. (TIGO) released earnings for its second quarter that Increases, from the same period last year and beat the Street estimates.
The company's earnings totaled $676 million, or $4.05 per share. This compares with $78 million, or $0.46 per share, last year.
Analysts on average had expected the company to earn $0.64 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 5.9% to $1.372 billion from $1.458 billion last year.
Millicom International Cellular S.A. earnings at a glance (GAAP) :
-Earnings: $676 Mln. vs. $78 Mln. last year.-EPS: $4.05 vs. $0.46 last year.-Revenue: $1.372 Bln vs. $1.458 Bln last year.
This decline in revenue was mainly due to weaker foreign exchange rates of the currencies of Bolivia, Colombia, and Paraguay against the U.S. dollar.
This surge in the second-quarter earnings was supported by the gain of $604 million from the sale of Lati International and Lati Paraguay.
On August 6, the Board approved a special interim dividend of $2.50 per share. The interim dividend will be distributed in two equal installments of $1.25 per share on October 15, 2025 and April 15, 2026, together with the regular dividend of $0.75 per share on those dates.
TIGO was up by 4.69% at $41.81 on the Nasdaq.
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