Millicom Q1 core profit tops forecast

martes 26 de abril de 2016 02:15 GYT

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)