Seeking Alpha

America Movil net profit almost halves

  • America Movil (AMX, AMOV) Q3 net profit slumped 46% to 16.38B pesos ($1.25B), badly missing consensus of 25.66B pesos.
  • Revenue +0.7% to 194.22B pesos, helped by increased smartphone sales.
  • EBITDA -5.8% to 63.3B pesos.
  • Number of mobile subscribers increased by 3.1M to 265M.
  • Earnings were hurt by an increase in financing costs to 10.8B pesos, including a forex loss of 2.9B pesos, as well as by customers making fewer calls - service revenues declined 1.4%. (PR)
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