NII Holdings, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported operating revenues of $150.8 million against $220.1 million a year ago. Operating loss was $19.8 million against $68.9 million a year ago. Loss from continuing operations before income tax benefit was $96.2 million against $93.3 million a year ago. Net loss from continuing operations was $96.2 million or $0.96 per basic and diluted share against $87.5 million or $0.87 per basic and diluted share a year ago. Net loss attributable to the company was $71.1 million or $0.99 per basic and diluted share against $84.8 million or $0.85 per basic and diluted share a year ago. Negative OIBDA was $11.9 million against OIBDA of $59.6 million a year ago. Negative adjusted OIBDA was $0.2 million against $5.4 million a year ago. The company's consolidated adjusted OIBDA excludes the impact of non-cash asset impairments and restructuring charges. Capital expenditures were $15 million for the quarter.

For the six months, the company reported operating revenues of $326.8 million against $463.6 million a year ago. Operating loss was $34.3 million against $148.8 million a year ago. Loss from continuing operations before income tax benefit was $139.4 million against $186.0 million a year ago. Net loss from continuing operations was $139.4 million or $1.39 per basic and diluted share against $180.2 million or $1.80 per basic and diluted share a year ago. Net loss attributable to the company was $102.8 million or $1.42 per basic and diluted share against $177.5 million or $1.77 per basic and diluted share a year ago. Negative OIBDA was $18.0 million against $126.5 million a year ago. Negative adjusted OIBDA was $8.1 million against $0.3 million a year ago. Net cash used in operating activities was $87.0 million against $46.4 million a year ago.

The company updated its guidance for 2018 as: the company continues to expect 3G/4G net subscriber additions of 300,000 or more for the full year; and the company continues to expect a similar level of capital expenditures for the full year as the amount reported in 2017.

The company expects churn of 2.75% or lower for the second half of 2018; the company expects that consolidated adjusted OIBDA will be positive for the second half of 2018; and the company expects cash burn for the second half of 2018 will not exceed $100 million.