Bloomberg | February 24, 2011 | Crayton Harrison
NII Holdings Inc., the wireless carrier that uses the Nextel brand in Latin America, gained the most in 10 months in Nasdaq Stock Market trading after reporting record subscriber additions in the fourth quarter.
The mobile-phone company rose $2.98, or 7.7 percent, to $41.84 at 4 p.m. New York time, the biggest gain since April 29. The shares have dropped 6.3 percent this year.
NII is investing in third-generation networks in Latin America to add high-speed Internet downloads to its walkie- talkie services for business clients. NII added 436,000 customers acrossMexico, Brazil, Peru, Chile and Argentina in the fourth quarter, bringing its total to 9 million.
Net income for the period ending Dec 31. advanced 65 percent to $98.6 million, or 57 cents a share, from $59.6 million, or 35 cents, a year earlier, NII said in a statement today. Sales jumped 23 percent to $1.52 billion.
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