Millicom beats revenue forecasts, raises cash flow guidance on Latin America growth

Millicom beat second-quarter revenue forecasts and raised its 2026 free cash flow guidance, prompting a 7.8% surge in pre-market shares to near a 52-week high. Revenue reached $2.18 billion, exceeding the $2.11 billion estimate, while adjusted EBITDA hit a record $1.0 billion. However, earnings per share missed at $0.65 versus the expected $0.94, partly due to restructuring costs. Management raised its free cash flow target to about $1.1 billion. Strong organic growth in Colombia and other Latin American markets was cited, with recent acquisitions already contributing positively to cash flow despite integration costs.