Millicom Earnings: Disappointing Results in Colombia and Guatemala, Patience Required

Millicom delivered disappointing first-quarter results, particularly in Colombia and Guatemala. Consolidated profitability and cash flow took a hit during the quarter, which management ascribed to costs associated with its restructuring efforts, higher stock-based compensation, investments in growth initiatives, and legal expenses tied to a potential buyout of the firm. Millicom declined to provide an update on buyout discussions but indicated they are ongoing.