NII Holdings Beats Expectations
From the Associated Press
NII Holdings of Reston, a wireless service provider to Latin American businesses, said its first-quarter profit and sales grew, surpassing Wall Street expectations as the company expanded its subscriber base.
NII earned $113.6 million (65 cents a share), up 35 percent from $84.2 million (47 cents) in the same period a year earlier. Revenue jumped 39 percent, to $993.2 million.
Analysts, on average, expected profit of 61 cents per share on sales of $972.6 million.
NII added 321,700 net subscribers in the quarter, up 35 percent. It now has more than 5 million subscribers. Average revenue per unit, a closely watched industry figure, was flat at $58.
The company said that demand for its wireless service continues to grow and that it has expanded its coverage area, mainly in Brazil and Mexico.
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