America Movil second quarter profit jumps 32.7% on lower costs
July 23, 2014, 12:15 am TWN
MEXICO CITY--Mexican billionaire Carlos Slim's America Movil telecommunications provider reported a 32.7 percent jump in the second quarter thanks to reduced financing costs and a lower exchange rate.
The company increased its profit to 18.8 billion pesos (US$1.5 billion, 1.1 billion euros) in the months from April to June, and revenue also went up four percent to 202.6 billion pesos, according to a company financial report released Monday.
America Movil is a leader in Latin America's telecom market, with nearly 270 million mobile subscribers, 31.6 million fixed lines and 20 million broadband accesses.