Millicom International Cellular S.A. (TIGO) experienced a significant pre-market plunge of 6.94% 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. While revenue showed growth, reaching $1.99 billion, it narrowly missed some analyst estimates.

Additional pressure likely 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 in pre-market trading reflects investor concern over the company's profitability metrics despite top-line growth.