America Movil Q2 revenues up 6.9%; net profit surges 86%

19 Jul 2017

Mexico-based America Movil (AM) has reported total revenues of MXN249.4 billion (USD14.2 billion) for the three months ended 30 June 2017, representing an increase of 6.9% compared to 2Q16. EBITDA for the quarter under review jumped 13.7%, from MXN61.0 billion to MXN69.3 billion. Net income for 2Q17, meanwhile, surged 86.0%, from MXN7.7 billion to MXN14.3 billion. Reflecting on the improved results, the group observed: ‘In the second quarter financial volatility in Latin America became more subdued in line with the situation in the global markets, with world economic growth on a slightly improving path … The increase in peso terms reflects the appreciation relative to the prior quarter of the Mexican peso versus most of its other operating currencies … Mexico and the South American block – particularly Colombia, Argentina, Chile, and Peru – were the main forces behind the strong expansion of service revenues. All operations, save one, presented ARPU increases relative to the year-earlier quarter.’

In operational terms, AM ended the quarter with a total of 280.033 million wireless subscriptions, down 1.0% from 282.852 million twelve months earlier; Mexico-based Telcel remains the operator’s largest mobile unit, claiming 73.099 million subscribers at that date. Fixed line accesses (RGUs, including wireline, broadband and pay-TV) stood at 82.560 million at end-June 2017, a 1.1% increase from 81.679 million in 2Q16. Claro Brasil (including NET Servicos and Embratel) accounted for the highest number of fixed RGUs, with 35.972 million connections.

Mexico, America Movil (AM)