NII Holdings Inc. (NASDAQ:NIHD) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 9.84%.
NII Holdings Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-1.21 in the quarter versus EPS of $0.06 in the year-earlier quarter.
Revenue: Decreased 13.3% to $1.41 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: NII Holdings Inc. reported adjusted EPS loss of $1.21 per share. By that measure, the company missed the mean analyst estimate of $-0.67. It missed the average revenue estimate of $1.46 billion.
Quoting Management: “During the quarter, we took actions to execute against our key priorities, and we are tracking well on our goals for the year,” said Steve Shindler, NII Holdings’ chairman and chief executive officer. “We continue to focus on completing our next generation networks in Mexico and Brazil, improving our operational performance and realigning our business operations to provide the best return on investment. We have taken steps to achieve these goals, including adding more discipline to our processes and improving our focus on execution, which has positively impacted our network deployments and operational performance. Our recently announced sale of Nextel Peru to Entel is one step in this process to realign our business. We are excited about the progress that we have made to date, and there is a lot more to come.”
Key Stats (on next page)…