Why Is Amer Movil (AMX) Up 1.9% Since Last Earnings Report?

About this update from America Movil Sab De Cv Class B

It has been about a month since the last earnings report for Amer Movil (AMX). Shares have added about 1.9% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Amer Movil due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. America Movil's Q1 Earnings and Revenues Rise Y/YAmerica Movil 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 millionRevenuesTotal 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...

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