On August 6, Millicom International Cellular S.A. rose 15.39% in regular trading, trading at $105.735/share, with turnover of $171 million. The rally was driven by the company's Q2 earnings report released before market open, which significantly exceeded Wall Street expectations on both the top and bottom lines.

Specifically, Millicom reported Q2 earnings of $0.65 per diluted share, beating the analyst consensus estimate of $0.59 by 10.17%. Revenue for the quarter ended June 30 came in at $2.179 billion, surpassing the $2.134 billion estimate. EBIT was particularly strong at $462 million. Revenue represented a substantial increase from $1.37 billion in the year-ago period. The broad-based earnings beat significantly boosted investor confidence, propelling the stock sharply higher throughout the session.

Millicom International Cellular S.A. is a leading cable and mobile services provider headquartered in Luxembourg, offering high-speed data, pay-TV, mobile financial services, and other digital solutions across Latin America under the Tigo brand.

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