NII Holdings (NIHD) Reports Q1 Loss of $0.96, Revenues Miss

NII Holdings (NASDAQ: NIHD) reported Q1 EPS of ($0.96). Revenue for the quarter came in at $156 million versus the consensus estimate of $188.9 million.

"We continued to execute well on our plan and grew our subscriber base this quarter," stated Roberto Rittes, Chief Executive Officer of Nextel Brazil. "We reported 65,700 net adds during the quarter, bringing total net adds year to date to 158,600, our highest semi-annual level of net adds in four years. Looking ahead, we expect to generate a similar level of net adds for the second half of the year."

"Our adjusted OIBDA results this quarter were better than we expected, resulting from our continued focus on reducing costs. As a result, we believe we have turned the corner and expect to generate positive adjusted OIBDA for the second half of the year," said Dan Freiman, Chief Financial Officer of NII Holdings. "Based on our results to date, we are well positioned to meet or exceed our goals for the year."

For earnings history and earnings-related data on NII Holdings (NIHD) click here.

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