April 26, 2016 / 6:16 AM / 2 years ago

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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below