Millicom shines after Q1 profit beat
08/05/2024 12:31
** Stockholm-listed depository receipts of Millicom
TIGOsdb.ST rise 8% after the telecom group's operating profit
for the first three months of the year beat expectations
** The company, which provides telecom services in Latin
America through its TIGO brand, posted a Q1 EBIT of $324
million, vs analysts' expectations of $250 million - LSEG data
** "Q1 benefited from large B2B contracts, favorable capex
phasing, stronger FX and other tailwinds," said the company in a
statement
** The Swedish receipts, with one receipt representing one
Millicom common share, are among the best performers on the
pan-European STOXX 600 index .STOXX
(Reporting by Greta Rosen Fondahn)
((Greta.RosenFondahn@thomsonreuters.com))