America Movil (AMX) Q3 Earnings and Revenues Decrease Y/Y

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 4 cents for third-quarter 2023, down from 28 cents reported in the prior-year quarter.Net income in the quarter was Mex$2,028 million or Mex$0.03 per share compared with Mex$17,969 million or Mex$0.28 per share in the year-ago quarter.The company had a comprehensive financing cost of Mex$29,740 million, up 83.1% from the year-ago quarter’s comprehensive financing costs of Mex$16,238 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 3.3% to Mex$203,842 million due to poor performance in the Service and Equipment business segments. Also, rising interest rate and unfavorable foreign currency movement were headwinds.Service revenues were Mex$169,052 million, down 4.3% year over year. Equipment revenues totaled Mex$31,105 million, down 2.6%.America Movil gained 3 million wireless subscribers in the third quarter. This figure includes 2 million postpaid subscribers. Brazil, Austria and Colombia were the primary contributors to postpaid subscriber growth. The company had 306.2 million wireless subscribers at the third-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 rise of 2.5% to 1,624 million Soles. The uptick was driven by higher service revenues.Argentina’s revenues came in at ARS 145,053 million, down 7.7% 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 third 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 1.3% to COP 3,739 billion, owing to an increase in fixed-line revenue...

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