América Móvil Q1 net profit rises 18.7%

Bnamericas Published: Tuesday, April 28, 2009
Mexican mobile phone giant América Móvil (NYSE: AMX, Nasdaq: AMOV) posted an 18.7% rise in net profit in the first quarter to 16.4bn pesos (US$1.15bn), driven by subscriber growth, the company said in a statement. The company added 3.9mn new subscribers in the period to close March with 186.6mn across Latin America, 17.2% more than a year prior. Revenues totaled 93.8bn pesos, up 15.4% year-on-year. Ebitda rose 12.9% to 38.3bn pesos, with the margin at 40.8%, slightly lower than the same quarter a year before. Ecuador, Chile, Paraguay, Nicaragua and the Caribbean all recorded higher subscriber gains than in the year-ago period, in spite of higher penetration levels and the economic downturn. Data revenues expanded by 47.2% in the period, mostly on the back of 3G services, propping up ARPUs in several countries.

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