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

About this update from America Movil Sab De Cv Class B

America Movil, S.A.B. de C.V. AMX reported net income per ADR of 46 cents for second-quarter 2023, up from 21 cents reported in the prior-year quarter.Net income in the June quarter was Mex$25,875 million or Mex$0.41 per share compared with Mex$13,683 million or Mex$0.21 per share in the year-ago quarter.The company had a comprehensive financing cost of Mex$2,104 million, down 88.1% from the year-earlier quarter’s comprehensive financing costs of Mex$17,614 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 decreased 4.6% to Mex$202,532 million due to poor performance in the Service and Equipment business segment.Service revenues were Mex$169,206 million, down 4.2% year over year. Equipment revenues totaled Mex$31,103 million, down 7.5%.America Movil gained 2.2 million wireless subscribers in the first quarter. This figure includes 1.5 million postpaid subscribers. Brazil, Austria and Colombia were the primary contributors to postpaid subscriber growth. The company had 303 million wireless subscribers at the second-quarter end.On the fixed-line, Broadband and Television platforms, the company ended the quarter with 73.4 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, Peru witnessed a year-over-year revenue decline of 0.9% to 1,584 million Soles. The downtick was driven by lower equipment and wireless revenues.Argentina’s revenues came in at ARS 111,881 million, down 6.2% from the year-ago quarter. The downside was caused by declining service, fixed lines and wireless 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 second quarter of 2023. 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 2.8% to COP 3,792 billion, owing to an increase in service revenues and fixed-line revenues.Revenues from Mexico, Brazil,...

View stock analysis, news, and events for America Movil Sab De Cv Class B