Millicom International Cellular S.A. (TIGO) experienced a significant intraday plummet of 10.13% on Tuesday. The sharp decline followed the release of the company's first-quarter 2026 financial results.

The telecommunications operator reported quarterly earnings of $0.65 per share, which missed the analyst consensus estimate of $1.06 by 39.25 percent and represented a 42.98 percent decrease from earnings of $1.14 per share in the same period last year. Furthermore, net profit attributable to company owners fell 43.4% year-on-year to $109 million.

Additional pressure stemmed from the company's operating profit (EBIT) of $416 million, which fell short of analyst expectations, and the disclosure of significant restructuring costs related to recent acquisitions in Colombia and Chile. The market's negative reaction reflects investor concern over the company's profitability metrics despite top-line growth.