America Movil (AMX) Q2 Earnings Decline Y/Y, Revenues Rise

About this update from America Movil Sab De Cv Class B

America Movil, S.A.B. de C.V. AMX reported a net loss per ADR of 2 cents for the second quarter of 2024 against the net income of 46 cents reported in the prior-year quarter.Net loss in the June quarter was Mex$1,093 million or Mex$0.02 per share against net income of Mex$25,875 million or Mex$0.41 per share in the year-ago quarter.The company had a comprehensive financing cost of Mex$40,210 million compared with the year-ago quarter’s comprehensive financing cost of Mex$2,104 million.America Movil, S.A.B. de C.V. Unsponsored ADR Price, Consensus and EPS Surprise America Movil, S.A.B. de C.V. Unsponsored ADR price-consensus-eps-surprise-chart | America Movil, S.A.B. de C.V. Unsponsored ADR QuoteRevenuesTotal quarterly revenues increased 1.5% to Mex$205,524 million due to healthy performance in the Service segment business, offset by poor results from the Equipment business segment.Service revenues were Mex$175,138 million, up 3.5% year over year. Equipment revenues totaled Mex$28,050 million, down 9.8%.America Movil gained 2.4 million wireless subscribers in the second quarter. This figure includes 1.8 million postpaid subscribers. Brazil, Mexico and Colombia were the primary contributors to postpaid subscriber growth. The company had 314 million wireless subscribers at the second-quarter end.On the fixed-line, Broadband and Television platforms, the company ended the quarter with 74.4 million revenue-generating units.The telco operates in multiple regions, namely Mexico, Brazil, Colombia, Peru, Ecuador, Argentina, Central America, the Caribbean, Austria and Other European countries.Of these countries, Austria witnessed a year-over-year revenue decline of 1.3% to 693 million Euros. The downtick was due to lower equipment revenues.Argentina’s revenues came in at ARS 413,921 million, up 0.9% from the year-ago quarter. The uptick was caused by increasing service revenues amid downward trends in wireless and equipment revenues. The reported data for Argentina are presented in line with IAS29, reflecting the implications of inflationary accounting, as the Argentinean economy is projected to be hyperinflationary for the first quarter of 2024. The company also stated that Argentina would be left out of all comparisons for consolidated data at constant exchange rates to maintain consistency.Colombia’s revenues increased 1.2% to COP 3,836 billion, owing to an incr...

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