MEXICO CITY (Reuters) – Mexican telecommunications giant America Movil on Tuesday reported a 39% jump in its first-quarter net profit compared to the same period in 2024, citing an increase in operating profit and a decrease in financing costs.
The company, which operates across over 20 countries in Europe and Latin America, posted a net profit of 18.70 billion pesos ($914.07 million) in the quarter.
Revenues of the company, controlled by the family of Mexican billionaire Carlos Slim, came in at 232.04 billion pesos for the period, up 14% year on year and just short of an LSEG average forecast of 233.3 billion pesos.
America Movil said its core earnings, or earnings before interest, taxes, depreciation and amortization (EBITDA), rose 13% in the quarter to 91 billion pesos.
The company added 2.4 million net post-paid customers in the quarter, driven by gains in Brazil, Colombia and Mexico. There were 1 million disconnections in the pre-paid segment due to declines in Mexico and Brazil, America Movil said.
Company executives said in February they were monitoring pre-paid clients in Mexico on concerns of a slowdown in the local economy.
($1 = 20.4604 pesos at end-March)
(Reporting by Natalia Siniawski; Editing by Cassandra Garrison)
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