Reported 2 days ago
America Movil, the Mexican telecommunications powerhouse, experienced a drastic 48% drop in its fourth-quarter net profit, attributing the decline to significant foreign exchange losses despite an 18% year-on-year increase in revenues. The company's profit fell to 9.48 billion pesos ($453 million), falling short of analysts' expectations, primarily influenced by a weakening peso and higher financing costs. However, their core earnings (EBITDA) rose by 16%, and they expanded their customer base with millions of new post-paid and broadband clients.
Source: YAHOO