Millicom Q1 core profit tops forecast
STOCKHOLM, April 26 (Reuters) - Emerging markets telecoms and media group Millicom reported first-quarter core profit slightly above market expectations on Tuesday and repeated its 2016 outlook.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) were $550 million against $571 million a year ago and a mean forecast of $541 million in a Reuters poll of analysts.
Revenues dropped to $1.53 billion from a year-ago $1.67 billion and just below an expected $1.56 billion.
The Latin America and Africa-focused firm repeated it expected 2016 service revenue, which excludes equipment sales, to grow by mid-single digit and adjusted EBITDA to grow by mid to high-single digits, with both sales and profit guidance based on constant currencies.
Source text for Eikon: (Reporting by Sven Nordenstam and Olof Swahnberg; editing by Niklas Pollard)
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