Total sales reached US$ 12.670 billion, down 2.6% compared to the same quarter of 2020. This despite the increase in billing for services, both mobile and fixed, except in the pay TV segment. in which it lost almost 200,000 clients -181,000 in Brazil alone. Net profit amounted to US$ 800 million, with a 16.4% drop in year-on-year terms.

América Móvil’s (AMX for its code in the stock exchanges) total revenues in Q3 totaled US$ 12.670 billion, representing a 2.6% decrease compared to the same period of 2020. This result was impacted by losses caused by the devaluation of the local currencies of countries in the region compared to the dollar.

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América Móvil's revenues and profit fell in Q3

MORE ANALYSIS

AI wave benefits Nokia and boosts its second-quarter results

The Finnish vendor generated sales of €4.815 billion, with a strong 9% year-on-year increase on a constant-currency basis. Operating profit rose 18% year on year to €434 million. However, net profit was negative due to severance payments related to layoffs.

América Móvil increased profit by 9.2% in the second quarter

The increase was the result of higher revenue (+3.1%) and EBITDA growth of 3.8%. Exchange rate stability and the expansion of its subscriber base contributed to the performance. At the end of June, the company had accumulated 414.5 million access lines across all types of services.

Impact of mobile network expansion on poverty reduction

A GSMA report indicates that poverty declined by 4.8% in Brazilian municipalities where mobile coverage became available. Recommendations for the next federal government.

Buenos Aires among 10 cities joining Bloomberg’s new global AI forum

Buenos Aires City Mayor Jorge Macri led a meeting last Thursday and outlined the four pillars of the city’s AI strategy.

CRT’s plan for spectrum auction to enable private industrial networks

Interested parties will be able to submit questions about the tender proposal starting August 3. Bids will be submitted on November 19. A total of 240 10 MHz blocks will be auctioned. Any spectrum not requested will go to a second sealed-bid round.

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