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Reuters
14-05-2025
- Business
- Reuters
Discovery's Citrone says America Movil is his top stock name
NEW YORK, May 14 (Reuters) - Discovery Capital's founder Rob Citrone said on Wednesday his favorite stock at this moment is Mexico's America Movil ( opens new tab due to its exposure to many different countries in Latin America. Citrone, who manages a macro hedge fund, is bullish on Latin America as a diversification to investments in the U.S. Discovery posted a 52% gain last year. He sees opportunities in Latin America's equities, rates and currencies. Currently, most of Discovery's bets are outside the U.S.
Reuters
29-04-2025
- Business
- Reuters
Mexican telecoms giant America Movil posts 39% jump in first-quarter profit
MEXICO CITY, April 29 (Reuters) - Mexican telecommunications giant America Movil ( opens new tab 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)
