Millicom International Cellular (TIGO) shares surged 5.69% in pre-market trading on Thursday after the company reported second-quarter 2026 results that beat analyst expectations on both revenue and earnings.

The Latin American telecommunications provider posted earnings of $0.65 per diluted share, surpassing the FactSet consensus estimate of $0.59. Revenue for the quarter came in at $2.18 billion, exceeding the $2.13 billion analyst forecast and marking a 59.4% increase year-on-year. The company also highlighted record adjusted EBITDA of $1.01 billion and record equity free cash flow of $327 million, up 50.1% from the prior year.

Adding to the positive momentum, Millicom raised its full-year 2026 equity free cash flow guidance to approximately $1.1 billion, up from a prior target of at least $900 million, and lowered its year-end leverage target to below 2.5x. The Board of Directors also declared an additional interim dividend of $1.50 per share, payable in two installments in 2027, reflecting confidence in the company’s strengthened financial position and cash generation.