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America Movil net profit falls 42% in Q1
2016-04-28 11:01:00| Telecompaper Headlines
(Telecompaper) America Movil reported a drop in first-quarter results, hurt by currency effects and the economic slowdown in Latin America. Revenues of MXN 223 billion were up just 1.4 percent year-on-year. Service revenues increased 0.3 percent in local currency and declined 1.1 percent at constant exchange rates. Fixed-broadband and pay-TV revenues led the growth, increasing 7.9 percent and 5.9 percent at constant exchange rates. EBITDA of MXN 61.7 billion was down 9.6 percent in local currency and 8.8 percent lower at constant exchange rates. Operating profit fell 25.6 percent in local currency terms, reflecting both the EBITDA reduction and a 10.3 percent increase in depreciation and amortization charges. The company obtained a net profit of MXN 4.8 billion in the quarter, down from MXN 8.3 billion a year ago.
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Category:Telecommunications