FX.co ★ Millicom International Swings To Profit In Q2

Millicom International Cellular S.A. (TIGO) announced a net profit of $78 million, or $0.46 per share, for the second quarter, in contrast to a net loss of $22 million, or $0.13 per share, in the same period last year.

The company's quarterly revenue increased by 4.7% to $1.46 billion, compared to $1.39 billion in the previous year's second quarter. Organic revenue also saw a rise of 1.4%.

Analysts, according to Thomson Reuters, had anticipated earnings of $0.50 per share on revenues of $1.48 billion for the quarter. It’s important to note that analysts' estimates typically exclude special items.