NIHD: Quick Comment on NII Holdings Earnings
Large Cap Watch List (Track at Marketocracy) member NII Holdings, Inc. (NIHD) announced financial results for the second quarter of 2007. For the second quarter, the Company added over 331,000 net subscribers, a new quarterly record and a 51% increase compared to net subscriber additions for the same period last year, resulting in an ending subscriber base of nearly 4.1 million subscribers. Operating revenues of $786 million, grew 41% over the same period last year and were ahead of the $762 million consensus estimate. Operating income of $134 million was a 20% increase over the prior year period, and net income of $84 million, or $0.52 per basic share, exceeded the $0.50 consensus.
The company also raised its guidance for the full year to $3.2 billion in revenue but the consensus was already there. Furthermore, given that any increased earnings are likely to be somewhat offset by increased capital expenditures, investors are selling the stock in a generally weak market.
Like this article? Why not try out:
