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América Móvil Posts Double-Digit Q2 Growth and Returns to Profit

Leveraging 11 billion pesos in foreign-exchange gains fueled a 22.3 billion-peso profit on 13.8% higher revenues

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Overview

  • América Móvil’s consolidated revenues rose 13.8% year-on-year to 233.8 billion pesos
  • Operating cash flow (EBITDA) increased 11.2% to 92.4 billion pesos
  • The company swung to a net profit of 22.3 billion pesos from a 1.1 billion-peso loss driven by 11 billion in foreign-exchange gains
  • It added 2.9 million postpaid subscribers while disconnecting 1.1 million prepaid accounts in a user-base cleanup
  • Fixed-broadband accesses grew by 462,000 connections, led by 231,000 new lines in Mexico