Millicom International Cellular SA

TIGO: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Millicom Earnings: Colombia Is Taking Shape as Margins Continue to Impress

Michael Hodel

May 12, 2026

Millicom's reported revenue increased 45% in the first quarter, driven by acquisitions in Colombia, Ecuador, and Uruguay. Excluding these deals and currency shifts, service revenue was up 5%, while EBITDA increased 10% despite pressure from restructuring costs.

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Millicom International Cellular SA

Millicom Earnings: Colombia Is Taking Shape as Margins Continue to Impress

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