IHS Holding Slips To Hefty Loss In Q1

(RTTNews) - IHS Holding Ltd. (IHS) reported Tuesday a net loss attributable to the company for the first quarter of $1.56 billion or $4.67 per share, compared to net income of $7.78 million or $0.03 per share in the prior-year quarter.

The results for the latest quarter included $1.40 billion related to unrealized foreign exchange losses.

On average, four analysts polled by Thomson Reuters expected the company to report a loss of $0.01 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter decreased 30.7 percent to $417.74 million from $602.53 million in the same quarter last year. Organic revenue increased 35.5 percent. Analysts expected revenue of $394.58 million for the quarter.

Looking ahead to fiscal 2024, the company continues to expect revenues between $1.70 billion and $1.73 billion for the year. The Street is looking for revenues of $1.74 billion for the year.

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