Millicom International Cellular shares are trading lower after the company announced it experienced slower service revenue growth compared to Q1 and said it sees lower than previously expected cumulative equity free cash flow for the three years up to and including 2024.
Portfolio Pulse from Benzinga Newsdesk
Millicom International Cellular has announced slower service revenue growth compared to Q1 and expects lower than previously anticipated cumulative equity free cash flow for the three years up to and including 2024. This has led to a decrease in the company's share price.
June 28, 2023 | 7:23 pm
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Millicom International Cellular (TIGO) shares are trading lower after the company announced slower service revenue growth and lower than expected cash flow for the next three years.
The company's announcement of slower revenue growth and lower than expected cash flow is a negative signal to investors, which is likely to put downward pressure on the stock price in the short term.
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