NII Holdings sales up, raises guidance
- July 29, 2010
Reston-based NII Holdings is raising its full-year guidance after reporting a 28 percent increase in total revenues for the second quarter.
NII Holdings, which sells mobile applications to businesses in Latin America, reported revenues of $1.35 billion and said it also had increased its subscribers by 392,000 during the quarter. NII Holdings’ total number of subscribers grew to 8.2 million, a 22 percent increase from a year ago.
NII Holdings raised its revenue estimates to between $5.4 billion and $5.5 billion for the year. In February it had estimated $5.2 billion to $5.4 billion.
The company’s net income was down to $75.5 million, compared with $134.3 million during the second quarter last year.
The company spent $230 million in capital expenditures during the quarter, which included investing $122 million in Brazil.