Mexico’s America Movil net profit skyrockets to 30.8 billion pesos in Q1
MEXICO CITY (Reuters) – Mexican telecommunications large America Movil on Tuesday reported a surge in its first-quarter web revenue on the again of sturdy working revenue and overseas trade positive aspects.
Internet revenue was at 30.8 billion pesos ($1.55 billion), up from 1.8 billion pesos within the year-earlier interval, based on a submitting with the Mexican inventory trade.
America Movil stated the achieve was a results of “sturdy efficiency of working revenue and complete financing revenue of seven.3 billion pesos derived from overseas trade positive aspects of twenty-two.6 billion pesos.”
The corporate’s income rose 2.4% to 211.2 billion pesos, up from 206.3 billion pesos within the first quarter of 2021.
Earnings earlier than curiosity, taxes, depreciation and amortization (EBITDA) got here in at 81.1 billion pesos, a rise of about 4.2% in nominal phrases from a 12 months in the past, under a Refinitiv estimate of 83.673 billion pesos.
($1 = 19.8911 pesos at end-March)
(Reporting by Kylie Madry and Noe Torres; Writing by Cassandra Garrison; Modifying by Richard Pullin)
