America Movil 3Q20 revenues up 4.7% to MXN260.2bn

21 Oct 2020

Mexico City-based telecoms giant America Movil (AM) has reported total revenues of MXN260.172 billion (USD12.3 billion) for the three months ended 30 September 2020, up 4.7% year-on-year from MXN248.475 billion in 3Q19. EBITDA for the quarter under review, meanwhile, climbed 10.1%, from MXN78.509 billion to MXN86.460 billion. Finally, net income for 3Q20 jumped 44.6% from MXN13.043 billion to MXN18.861 billion on an annualised basis. The group noted: ‘Following the massive monetary and fiscal stimulus introduced throughout the world since the advent of the pandemic, the third quarter saw a rebound in economic activity in most countries in our region of operation and little of the volatility that was present in the prior two quarters.’

In operational terms, AM ended the quarter with a total of 280.722 million wireless subscriptions, up 0.7% from 278.716 million twelve months earlier; Mexico-based Telcel remains the operator’s largest mobile unit, claiming 76.563 million subscribers at that date. Fixed line accesses (RGUs, including wireline, broadband and pay-TV) stood at 80.953 million at end-September 2020, a 0.9% decrease from 81.669 million in 3Q19. Claro Brasil accounted for the highest number of fixed RGUs, with 32.952 million connections.

Mexico, America Movil (AM)