Wednesday, April 17, 2024

América Móvil's earnings fell 55% due to peso strength

It reached US$ 790 million in the first quarter of the year. Total revenues and Ebitda were also affected by the extraordinary income from the sale of towers, which boosted the result of a year earlier. Total mobile subscriptions grew 3.6% year-on-year to 311.6 million lines. Fixed UGIs totaled 74.1 million, 1% more than a year earlier.

America Movil had a complex start to the year. During the first quarter of 2024, the company, which operates in Latin America and Europe, saw a 55.2% drop in its profits.

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