UPDATE 1-NII Holdings Q3 misses, cuts FY rev outlook

jueves 27 de octubre de 2011 10:33 CDT
 

* Q3 adj EPS $0.36 vs est $0.54

* Q3 rev $1.75 bln vs est $1.77 bln

* Cuts FY rev est to $6.8 bln from $7.1 bln prior view

* Shares fall 18 pct in morning trade

Oct 27 (Reuters) - Wireless carrier NII Holdings Inc's third quarter missed estimates and cut full-year revenue outlook as it expects to be hit by lower exchange rates and increased competition in its Latin American market.

Shares of the company, which operates under the Nextel brand, were down 16 percent at $25.63 in late morning trade. They touched a low of $25.03 in early trading.

NII now expects full-year revenue of $6.8 billion, down from its previous outlook of $7.1 billion.

Analysts on average were expecting full-year revenue of $6.93 billion, according to Thomson Reuters I/B/E/S.

The company expects increased competition in Brazil and lower currency exchange rates to continue to hurt its results for the full year.   Continuación...