Millicom Q1 core profit slightly lags forecast
STOCKHOLM, April 24
STOCKHOLM, April 24 (Reuters) - Emerging markets telecoms group Millicom reported first-quarter core profit slightly below expectations on Thursday and repeated its outlook for 2014.
Earnings before interest, tax, depreciation and amortisation (EBITDA) and before corporate costs were $537 million versus a mean forecast of $546 million in a Reuters poll of analysts and $562 million in the year-ago quarter.
Revenues rose to $1.41 billion compared with expectations of $1.41 billion and $1.35 billion a year ago.
The Latin America and Africa-focused operator repeated it expected sales to grow at a mid to high single digit rate adjusted for currency swings and a core profit margin at around 35 percent in 2014, after corporate costs. (Reporting by Sven Nordenstam)