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June 29, 2017

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America Movil second quarter profit jumps 32.7% on lower costs

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.

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