América Móvil said net income for the first quarter rose 25.1% to 23.40 billion Mexican pesos ($1.31 billion), as operating performance strengthened and financing expenses fell. The telecoms group attributed the profit increase to higher operating earnings alongside lower financing costs.
On the customer front, the company reported a net gain of 3.0 million postpaid mobile clients for the quarter, with Brazil accounting for 1.3 million of those additions. At the same time, América Móvil recorded a net decline of 90,000 prepaid subscribers.
Revenue for the three months ended March reached 236.84 billion pesos ($13.21 billion), an increase of 2.1% from the prior-year period. That figure exceeded the dollar-denominated revenue forecast of $13.19 billion published by LSEG. EBITDA landed at 95.0 billion pesos ($5.30 billion), a result slightly ahead of analysts' expectations of $5.28 billion in dollar terms.
Broadband net additions were a notable contributor to customer growth, with América Móvil adding 594,000 new broadband accesses during the quarter. The broadband increases were concentrated in Mexico and Brazil, where the company added 175,000 and 115,000 customers, respectively.
The company provided the end-March peso-to-dollar conversion rate used in reporting: $1 = 17.9252 Mexican pesos. The financial results emphasize both the operational momentum in postpaid and broadband services and the company's ability to report slightly better-than-expected dollar-denominated top-line and EBITDA numbers for the quarter.
These results show a mix of subscriber dynamics across service categories - robust postpaid growth led by Brazil, continued broadband customer additions in Mexico and Brazil, and a modest contraction in prepaid subscribers - while core profitability measures outperformed comparable analyst estimates in dollar terms.
Summary of key figures (quarter ended March):
- Net profit: 23.40 billion pesos, up 25.1%
- Revenues: 236.84 billion pesos, up 2.1% ($13.21 billion)
- EBITDA: 95.0 billion pesos ($5.30 billion)
- Postpaid mobile net additions: 3.0 million (Brazil +1.3 million)
- Prepaid mobile net change: -90,000 subscribers
- Broadband net additions: 594,000 (Mexico +175,000; Brazil +115,000)