NII Holdings Sees Quarterly Revenues Rise by 28%
NII Holdings - which operates under the brand Nextel - says that it added 392,000 net subscribers to its network, bringing its ending subscriber base to nearly 8.2 million, a 22% increase in the ending subscriber base compared to the end of the second quarter of 2009.
Financial results for the quarter included consolidated operating revenues of $1.35 billion, a 28% increase compared to the second quarter of 2009.
The Company continued to invest in the expansion of the coverage and capacity of its networks reporting consolidated second quarter 2010 capital expenditures of $230 million, of which $122 million was invested in Brazil.
“We delivered excellent results for the quarter and the first half of the year highlighted by robust subscriber growth” said Steven Dussek, NII Holdings’ Chief Executive Officer. “These results reflect our balanced approach to growth and profitability, which is built on strategies designed to improve the quality of our customer base and customer retention across all of our markets. We have doubled our subscriber base over the past three years, while maintaining our focus on profitability with OIBDA growing 67% during that period. We believe the opportunity for profitable growth in Latin America is significant, and that our differentiated approach and the high quality of our expanding services will position us to capture this growth in the future,” he added.
NII Holdings‘ consolidated ARPU was $47 for the second quarter of 2010, up $3 when compared to the same period last year due primarily to strengthening of local currencies.
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