America Movil's (AMX) Q1 Earnings and Revenues Rise 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 51 cents for first-quarter 2023, up from 47 cents reported in the prior-year quarter.Net income in the March quarter was Mex$30,146 million or Mex$0.48 per share compared with Mex$30,797 million or Mex$0.48 per share in the year-ago quarter.The company had a comprehensive financing cost of Mex$374 million, down 94.9% from the year-earlier quarter’s comprehensive financing costs of Mex$7,364 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 1.7% to Mex$208,926 million owing to solid momentum in the equipment business segment.Service revenues were Mex$169,053 million, down 2.2% year over year. Equipment revenues totaled Mex$31,233 million, up 2.1%.America Movil gained 1.1 million wireless subscribers in the first quarter. This figure includes 1.9 million postpaid subscribers. Brazil, Austria and Colombia were the primary contributors to postpaid subscriber growth. However, the company witnessed net disconnections of 0.8 million in prepaid subscribers. The company had 301 million wireless subscribers at the end of the first quarter.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 year-over-year revenue growth of 51.2% to 2,414 million Soles. The robust performance was driven by higher fixed-line and service revenues.Argentina’s revenues came in at ARS 90,721 million, down 8.3% from the year-ago quarter’s levels. 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 first quarter of 2023. The company also stated that Argentina will be left out of all comparisons for consolidated data at constant exchange rates to maintain consistency.Colombia’s revenues remained constant at COP 3,738 billion...

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