NII Holdings, Inc. (NIHD) Posts Q2 Loss of $3.65/Share; Will Likely File for Ch. 11 Bankruptcy Protection

NII Holdings, Inc. (NASDAQ: NIHD) reported Q2 EPS of ($3.65), $1.35 worse than the analyst estimate of ($2.30). Revenue for the quarter came in at $969 million versus the consensus estimate of $948.1 million.

The Company reported a net loss of 77,000 subscribers for the quarter, bringing its quarter-end subscriber base to 9.4 million, a 6 percent decrease from a year ago.

As a result of the Company's financial performance in combination with the potential impact of its inability to satisfy certain financial covenants under our existing debt obligations, the Company will likely find it necessary to file a voluntary petition for relief under Chapter 11 of the Bankruptcy Code in order to implement a restructuring of its obligations on a stand-alone basis or in conjunction with one or more potential strategic transactions as disclosed in greater detail in the Company's Quarterly Report on Form 10-Q for the second quarter that was filed with the Securities and Exchange Commission.

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

You May Also Be Interested In

• Hyperscale Data sets 1-for-5 reverse stock split for Aug. 24
• KinderCare Learning Companies, Inc. (KLC) Misses Q2 EPS by 2c; Offers Guidance
• Brookfield Wealth Solutions Ltd. (BNT) Reports Q2 EPS of $0.07