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Side-by-side financial comparison of IHS Holding Ltd (IHS) and MILLICOM INTERNATIONAL CELLULAR SA (TIGO). Click either name above to swap in a different company.

IHS Towers is one of the largest independent owners, operators and developers of shared communications infrastructure in the world, with operations across Africa and Latin America. It is the fifth-largest independent multinational tower company in the world.

Millicom International Cellular SA is a Luxembourgish fixed line and mobile telecommunications services provider operating in Latin America operating under the Tigo brand. Its main shareholder is Xavier Niel, a French billionaire who owns 40% of the company.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
IHS
IHS
TIGO
TIGO
Q4 25
$254.0M
Q3 25
$455.1M
Q2 25
$433.3M
Q1 25
$439.6M
Q4 24
$253.8M
Q3 24
$420.3M
Q2 24
$435.4M
Q1 24
$417.7M
Net Profit
IHS
IHS
TIGO
TIGO
Q4 25
Q3 25
$147.4M
Q2 25
$32.3M
Q1 25
$30.7M
Q4 24
Q3 24
$-205.7M
Q2 24
$-124.3M
Q1 24
$-1.6B
Gross Margin
IHS
IHS
TIGO
TIGO
Q4 25
83.6%
Q3 25
47.5%
Q2 25
51.3%
Q1 25
51.4%
Q4 24
72.1%
Q3 24
52.0%
Q2 24
52.5%
Q1 24
39.1%
Operating Margin
IHS
IHS
TIGO
TIGO
Q4 25
Q3 25
35.1%
Q2 25
33.8%
Q1 25
37.1%
Q4 24
Q3 24
29.9%
Q2 24
34.0%
Q1 24
-1.7%
Net Margin
IHS
IHS
TIGO
TIGO
Q4 25
Q3 25
32.4%
Q2 25
7.5%
Q1 25
7.0%
Q4 24
Q3 24
-48.9%
Q2 24
-28.5%
Q1 24
-372.8%
EPS (diluted)
IHS
IHS
TIGO
TIGO
Q4 25
Q3 25
$0.44
Q2 25
$0.10
Q1 25
$0.10
Q4 24
Q3 24
$-0.61
Q2 24
$-0.36
Q1 24
$-4.67

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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