AM 3Q18 revenues up 2.1%; bottom line improves

17 Oct 2018

Carlos Slim-backed America Movil (AM) has reported revenues of MXN249.2 billion (USD13.2 billion) for the three months ended 30 September 2018, representing an increase of 2.1% year-on-year. Adjusted EBITDA for the quarter grew 7.7% to MXN71.8 billion while the company’s net income jumped from MXN2.5 billion in 3Q17 to MXN18.6 billion in the period under review.

In operational terms, AM closed out September 2018 with a consolidated base of 279.369 million wireless subscribers, down 0.4% from 280.363 million one year earlier. Mexico remains the group’s largest mobile market by subscribers, with 74.704 million customers, followed by Brazil with 58.954 million. AM’s total number of fixed line RGUs (including wireline, broadband and pay-TV) grew 0.7% y-o-y, to 83.333 million at end-September. Brazil accounted for the lion’s share of these accesses, with 35.602 fixed RGUs as of Q3 2018.

Mexico, America Movil (AM)