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General

Millicom Q2 revenues down 8% to USD 970 mln, hit by lockdowns and forex

Thursday 30 July 2020 | 14:29 CET | News
Millicom's revenues turned negative in the second quarter of 2020 following recent rises, with the company reporting an 8.0 percent year on year revenue decline to USD 970 million, impacted by the Covid-19 pandemic and weaker currencies in Colombia and Paraguay. The company said strict lockdowns across Latin America resulted in a 31 percent drop in equipment sales, with second-quarter net loss coming in at USD 115 million compared to a year-earlier profit of USD 45 million.

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Categories: General
Companies: Millicom
Countries: Africa / Latin America
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