AM posts a 31% annual drop in net income in Q3 2019

16 Oct 2019

Mexico City-based telecoms giant America Movil (AM) has reported total revenues of MXN206.461 billion (USD13.5 billion) for the three months ended 30 September 2019, marginally up by 0.2% year-on-year from MXN206.118 billion in 3Q18. EBITDA for the quarter under review, meanwhile, climbed 9.5%, from MXN71.944 billion to MXN78.806 billion. In the period under review, AM’s bottom line decreased 31% y-o-y from MXN18.881 billion in the third quarter of 2018 to net income of MXN13.028 billion in 3Q19; the negative development was mainly due to foreign exchange losses.

In operational terms, AM ended the quarter with a total of 278.536 million wireless subscriptions, down 0.2% from 279.393 million twelve months earlier; Mexico-based Telcel remains the operator’s largest mobile unit, claiming 76.150 million subscribers at that date. Wireless markets that witnessed notable subscriber declines in 3Q19 include Peru and Brazil: the group disconnected 905,000 pre-paid lines in Brazil. Fixed line accesses (RGUs, including wireline, broadband and pay-TV) stood at 84.315 million at end-September 2019, a 0.3% decrease from 84.544 million in 3Q18. Claro Brasil (including NET Servicos and Embratel) accounted for the highest number of fixed RGUs, with 34.448 million connections.