NII Holdings shares fall on 2013 outlook

Shares of NII Holdings tumble on lower-than-expected 2013 revenue outlook

Associated Press

RESTON, Va. (AP) -- Shares of NII Holdings Inc. tumbled Tuesday after the provider of wireless service in Latin America issued a lower-than-expected revenue prediction for 2013.

The Reston, Va.-based company expects consolidated revenue for the year to total $5.7 billion to $5.9 billion, while analysts polled by FactSet expect $6.09 billion.

NII also said fourth-quarter revenue was about $1.5 billion and 2012 revenue around $6.1 billion. Analysts expect $1.47 billion and $6.1 billion for the fourth quarter and full year, respectively.

The company plans to release earnings results on Feb. 28.

NII shares fell 51 cents, or 8 percent, to $5.87 in afternoon trading, after dropping as low as $5.74 earlier in the session.