IHS Holding Stock Falls 13% Despite Improved Profit And Revenue Growth In Q1

(RTTNews) - IHS Holding Limited (IHS) shares dropped 13.15 percent to $5.43 on Tuesday, despite reporting strong year-over-year improvements in its first quarter results. The company posted revenue of $439.6 million, up 5.2 percent from $417.7 million a year ago. Net income came in at $30.7 million, compared to a loss of $1.56 billion in the prior-year quarter. The stock opened at $6.28 and fluctuated between $5.40 and $6.30 during the day. Trading volume hit 1.6 million shares, well above the average of 778,000. IHS shares are now near the upper end of their 52-week range of $2.44 to $6.30.