Millicom International Cellular S.A. (TIGO) Revenue History
Annual and quarterly revenue from 2013 to 2024
Compound Annual Growth Rate (CAGR)
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TIGO Revenue Growth
Revenue Breakdown (FY 2024)
TIGO's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
By Geography
TIGO Revenue Analysis (2013–2024)
As of May 7, 2026, Millicom International Cellular S.A. (TIGO) generated trailing twelve-month (TTM) revenue of $5.59 billion, reflecting slight decline in growth of -0.8% year-over-year. The most recent quarter (Q3 2025) recorded $1.42 billion in revenue, up 3.5% sequentially.
Looking at the longer-term picture, TIGO's 5-year compound annual growth rate (CAGR) stands at +6.0%, indicating steady revenue expansion. The company achieved its highest annual revenue of $6.57 billion in 2015.
Revenue diversification analysis shows TIGO's business is primarily driven by Service1 (100%). With over half of revenue concentrated in Service1, the company maintains significant focus in this area while developing other growth vectors.
When compared to Communication Services sector peers including AMX (+7.0% YoY), TKC (+20.6% YoY), and LILA (-0.3% YoY), TIGO has underperformed the peer group in terms of revenue growth. Compare TIGO vs AMX →
TIGO Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| TIGOCurrent | $5.6B | -0.8% | +6.0% | 23.1% | |
 AMX | $885.1B | +7.0% | +1.7% | 21.0% | |
 TKC | $166.7B | +20.6% | +46.0% | 21.1% | |
 LILA | $4.4B | -0.3% | +3.4% | 16.2% | |
 TEO | $4.14T | +55.1% | +53.4% | -3.5% | |
 VIV | $55.8B | +7.1% | +4.8% | 15.5% |
TIGO Historical Revenue Data (2013–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $5.80B | +2.5% | $4.38B | 75.5% | $1.34B | 23.1% |
| 2023 | $5.66B | +0.7% | $2.20B | 38.9% | $773.0M | 13.7% |
| 2022 | $5.62B | +32.0% | $4.12B | 73.2% | $915.0M | 16.3% |
| 2021 | $4.26B | +2.2% | $1.48B | 34.6% | $404.0M | 9.5% |
| 2020 | $4.17B | -3.8% | $1.31B | 31.5% | $240.0M | 5.8% |
| 2019 | $4.34B | +9.9% | $1.54B | 35.5% | $430.0M | 9.9% |
| 2018 | $3.95B | -3.2% | $1.53B | 38.7% | $410.0M | 10.4% |
| 2017 | $4.08B | -0.7% | $1.58B | 38.7% | $436.0M | 10.7% |
| 2016 | $4.11B | -37.5% | $2.04B | 49.7% | $381.0M | 9.3% |
| 2015 | $6.57B | +2.9% | $3.50B | 53.2% | $882.0M | 13.4% |
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Start ComparisonTIGO — Frequently Asked Questions
Quick answers to the most common questions about buying TIGO stock.
Is TIGO's revenue growth accelerating or slowing?
TIGO revenue growth slowed to -0.8%, below the 5-year CAGR of +6.0%. TTM revenue is $5.6B. The deceleration marks a shift from historical growth rates.
What is TIGO's long-term revenue growth rate?
Millicom International Cellular S.A.'s 5-year revenue CAGR of +6.0% reflects the variable expansion pattern. Current YoY growth of -0.8% is near this long-term average.
How is TIGO's revenue distributed by segment?
TIGO reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2013-2024 are available for download. Segment mix reveals concentration and diversification trends.