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Millicom (Tigo) announced its Q1 2024 results, showing an 8.6% revenue growth driven by service revenue up 8.8%. Operating profit increased by 70.6%, EBITDA grew 24.5% despite restructuring costs, and net income rose significantly. Colombia EBITDA saw a 50.3% increase. Operating cash flow rose 53.0% to $519 million, with a reduction in capex. Leverage declined to 3.10x. Millicom CEO highlighted positive performance across all countries, with strong EBITDA and OCF growth, record margins in Colombia, and positive service revenue returns in Guatemala and Panama.
Millicom (Tigo) announced the repurchase of 27,477 of its Swedish Depository Receipts (SDRs) between April 29, 2024, and May 3, 2024. The purchases were made on Nasdaq Stockholm by Citigroup Global Markets , totaling 824,911 treasury shares as of May 3, 2024.
Harmonic Inc. announced its Q1 2024 results, meeting guidance. Revenue at $122.1M with Broadband leading. Record backlog & deferred revenue. Video EBITDA guidance raised. Financials showed a dip from previous year in revenue, net income, and gross margin. Operating loss but increased backlog and customer base. Focus on restructuring Video segment for growth.
Millicom (Tigo) recently engaged in a share repurchase program, acquiring 34,562 of its Swedish Depository Receipts (SDRs) between April 22, 2024, and April 26, 2024. The purchases were made at varying daily average prices, totaling in repurchase amounts detailed in the press release. Following the transactions, Millicom now holds 797,434 treasury shares out of 172,096,305 outstanding shares. The program aligns with regulatory guidelines, as specified in the press release.
Millicom (Tigo) is set to announce its first quarter 2024 results on May 8, 2024, along with a video conference for the global financial community. The interactive event requires registration and will provide participants with the opportunity to ask questions live. Accompanying slides and a replay of the conference will be available on the Millicom investors website.
