America Movil (AMX) has released an update.
América Móvil experienced a mixed second quarter in 2024, gaining 2.4 million new subscribers, with significant growth in postpaid users, notably in Brazil and Colombia. Despite a 1.5% increase in revenue and a 5.6% rise in EBITDA, the company recorded a net loss of 1.1 billion pesos due to substantial foreign exchange losses attributed to the depreciation of the Mexican peso. The telecommunications giant also reported a solid operating profit and a robust cash flow, allowing it to cover capital expenditures, share buybacks, and labor obligations.
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