[b]Update[/b]

NII Holdings 1Q profit jumps as subscriber base grows
April 24, 2008 7:34 AM ET
RESTON, Va. (AP) - NII Holdings Inc., a wireless service provider to Latin American businesses, said Thursday its first-quarter profit and sales grew, surpassing Wall Street expectations as the company expanded its subscriber base.
NII earned $113.6 million, or 65 cents per share, up 35 percent from $84.2 million, or 47 cents per share, in the same period a year earlier.
Revenue jumped 39 percent to $993.2 million from $714.7 million.
Analysts, on average, expected profit of 61 cents per share on sales of $972.6 million.
NII added 321,700 net subscribers during the quarter, up 35 percent from the year-ago quarter. It now has more than 5 million subscribers. Average revenue per unit, a closely watched industry figure, was flat with the year-ago quarter at $58.
The company said demand for its wireless service continues to grow and it has expanded its coverage area, mainly in Brazil and Mexico.
© 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
April 24, 2008 7:34 AM ET
RESTON, Va. (AP) - NII Holdings Inc., a wireless service provider to Latin American businesses, said Thursday its first-quarter profit and sales grew, surpassing Wall Street expectations as the company expanded its subscriber base.
NII earned $113.6 million, or 65 cents per share, up 35 percent from $84.2 million, or 47 cents per share, in the same period a year earlier.
Revenue jumped 39 percent to $993.2 million from $714.7 million.
Analysts, on average, expected profit of 61 cents per share on sales of $972.6 million.
NII added 321,700 net subscribers during the quarter, up 35 percent from the year-ago quarter. It now has more than 5 million subscribers. Average revenue per unit, a closely watched industry figure, was flat with the year-ago quarter at $58.
The company said demand for its wireless service continues to grow and it has expanded its coverage area, mainly in Brazil and Mexico.
© 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.