Mexican telecoms giant America Movil swings to profit in Q2
Net profit for the group, controlled by the family of Mexican billionaire Carlos Slim, hit 22.28 billion pesos ($1.19 billion), beating the $1.13 billion mean dollar-denominated estimate of analysts polled by LSEG and rebounding from a 1.09 billion peso loss a year earlier.
Revenues for the firm, which operates across Latin America and Europe, rose 14% to 233.79 billion pesos ($12.46 billion), also above analysts' $12.00 billion forecast.
The company's earnings before interest, taxes, depreciation and amortization (EBITDA), rose 11% in the quarter to 92.41 billion pesos.
The group added 2.9 million post-paid customers in the three months through June, including 1.4 million from Brazil, though its pre-paid platform logged 1.1 million net disconnections.
It also added 462,000 new broadband accesses, half of which where in America Movil's home market of Mexico.
($1 = 18.7654 pesos at end-June)
(Reporting by Sarah Morland and Kylie Madry; Editing by Natalia Siniawski and Brendan O'Boyle)
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