Mexico’s America Movil Mexico City (AP) – America Movil (AMXL. MX), Latin its net profit increase in foreign exchange gains saw America’s largest telecommunications company by the number of subscribers in the third quarter as it reaped and moved customers on more lucrative plans.
file photo: the logo of the America Movil is in the picture on the wall a reception in the company offices in Mexico City, Mexico, may 18 2017. REUTERS/Edgard Garrido / file photo
the company, by the family of Mexican billionaire of Carlos Slim controlled, scored recovered from a loss of net income of 18,96 billion pesos ($ 1 billion) for the third quarter in same the period last year when its results were shattered by a Colombian court of arbitration ruling Panel.
but the profit for the year fell short of expectations of analysts by 22.6 billion pesos, according to a poll of by Reuters.
America Movil recorded a turnover of 248,07 billion pesos in the quarter.
America Movil have results in recent quarters but played exchange rates in favour of the company this time by currency swings disabled. America Movil, said in a report to investors that benefited their results from currency after elections in these countries improvements in Mexico and Colombia.
a different driver for the company’s success was his campaign to his business to more lucrative prepaid-postpaid plans, shift, in which users sign contracts. America Movil, said 1.1 million new postpaid subscriber during the quarter to 7.6 percent compared to the previous year, charged to the expansion of the base in key markets.
the company benefits also how users consume more data. Traffic rose 78.2 percent, paring in Brazil, the United States and Mexico.
America Movil EBITDA, a secure measure of profitability, reached 71.8 billion pesos to 7.7 per cent.
in Mexico, America Movil home market which it long has dominated EBITDA increased by 15.2 percent, a jump attributed to the company to reduce costs.
in Brazil, the company announced its results benefited from a legal victory in a tax dispute.
($1 = 18,7175 pesos late September)
reporting by Julia Love; Additional reporting by Noe Torres and Analita Espejo; Editing by Christine Murray and Sandra painter