Millicom Turns To Profit In Q2

(RTTNews) - Millicom reported that its second-quarter net profit was $46 million or $0.45 per share compared to a net loss of $1 million or $0.01 per share last year.

Operating profit was $110 million, down 34.5% from $168 million in the prior year.

Net loss from continuing operations was $27 million in the quarter, compared to a loss of $4 million in the prior year.

Group revenue increased 5.4% year-on-year to $1.05 billion in the second-quarter of 2019, reflecting the acquisition of Cable Onda in Panama, as well as a smaller contribution from the acquisition of Nicaragua operations.