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LUXEMBOURG - On Thursday, Millicom International Cellular S.A. (NASDAQ:TIGO), a leading telecommunications provider in Latin America, reported first quarter 2025 revenue that fell short of analyst expectations, while highlighting strong customer growth and improved profitability.
Millicom’s shares edged 0.35% lower in premarket trading following the earnings release.
The company posted revenue of $1.37 billion for the quarter, missing the consensus estimate of $1.44 billion. However, revenue was down 7.6% YoY, or 1.6% on an organic basis. Adjusted EBITDA rose 0.6% to $636 million, representing a 6.9% organic increase.
Millicom reported robust customer additions, with 262,000 new postpaid mobile subscribers and 62,000 new home broadband customers. Net income surged to $193 million, including approximately $95 million in one-time gains.
CEO Marcelo Benitez commented, "2025 is off to an excellent start, as we sustained strong commercial activity levels from H2 2024, with both mobile postpaid and home net additions near record levels."
The company reaffirmed its 2025 targets, aiming for equity free cash flow of around $750 million and year-end leverage below 2.5x. These targets reflect expected cost savings from efficiency measures implemented in 2024, partially offset by weaker projected foreign exchange rates.
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