America Movil announces 2Q results; net income up 25%

22 Jul 2008

Second quarter results from America Movil (AM) show a 25% rise in net income from the same period last year, up to MXN17.7 billion (USD1.74 billion) in the three months ended 30 June 2008. The Latin American group also added 6.1 million subscribers, with Brazil welcoming 1.9 million of those, closely followed by Mexico, 1.3 million. The additions bring AM’s total subscriber base to 165.3 million, with revenue in the second quarter reaching MXN84.6 billion (USD8.32 billion), an increase of 13.6% year-on-year. Highlights of the second quarter included the award of a 20-year wireless licence in Panama in May, bringing to 18 the total countries where AM now holds wireless concessions.

Mexico, America Movil (AM)