America Movil doubles second quarter net income

14 Jul 2021

Carlos Slim-backed Latin American telecoms giant America Movil (AM) has reported total revenues of MXN252.5 billion (USD12.7 billion) for the three months ended 30 June 2021, representing an increase of 0.4% compared to MXN251.6 billion in 2Q20. EBITDA for the quarter under review, meanwhile, climbed 2.8%, from MXN82.6 billion to MXN84.9 billion. Finally, AM’s net income surged from MXN19.5 billion in the second quarter of 2020 to MXN42.8 billion in 2Q21. The group credits the improved bottom line to ‘strong EBITDA growth and our net comprehensive financing income’.

In operational terms, AM closed out June 2021 with a consolidated wireless user base of 297.737 million, up 7.3% from 277.503 million one year earlier. The group’s total number of fixed line RGUs (including wireline, broadband and pay-TV) dropped 0.6% year-on-year, to 80.547 million at end-June.

Mexico, America Movil (AM)