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America Movil, S.A.B. de C.V. AMX reported net income per ADR of 15 cents for the fourth-quarter 2024, down from 33 cents in the prior-year quarter. The earnings figure missed the Zacks Consensus Estimate by 51.6%.
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Net income in the quarter was Mex$9,480 million or Mex$0.15 per share compared with Mex$18,062 million or Mex$0.29 per share in the year-ago quarter.
The company's comprehensive financing cost was Mex$29,850 million, up 91.2% from the year-ago quarter’s Mex$15,609 million.
Following the announcement, the company’s shares gained 1.2% and closed the session at $14.72 on Feb. 11, 2025. The stock has lost 12.7% in the past year compared with the Wireless Non-US industry’s decline of 1.2%.
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Top-Line Details
Total quarterly revenues soared 18% to Mex$236,940 million, driven by solid strength across the Service and Equipment segments businesses. Service revenues were Mex$196,253 million, up 19.1% year over year. Equipment revenues totaled Mex$37,101 million, rising 11%.
In the fourth quarter, AMX gained a total of 852,000 wireless subscribers. This included a net increase of 2.1 million postpaid subscribers, while the prepaid segment saw a decline of 1.3 million users. Brazil, Mexico and Colombia were the primary contributors to postpaid subscriber growth. The company had 323 million wireless subscribers at the end of December 2024.
On the fixed-line, Broadband and Television platforms, the company ended the quarter with 78 million revenue-generating units.
The telco operates in multiple regions, namely Mexico, Brazil, Colombia, Peru, Ecuador, Argentina, Central America, the Caribbean, Austria and Other European countries.
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Of these countries, the Caribbean witnessed a year-over-year revenue decline of 5.2% to $476 million. The downside resulted from a slowdown across all revenue segments owing to various macroeconomic pressures.
Argentina’s revenues came in at ARS 547,884 million, up 20.2% from the year-ago quarter. The expansion resulted from increasing service revenues amid soft trends in equipment revenues. The reported data for Argentina are presented in line with IAS29, reflecting the implications of inflationary accounting, as the Argentinean economy is “deemed” to be hyperinflationary for the third quarter of 2024. The company also stated that Argentina would be left out of all comparisons for consolidated data at constant exchange rates to maintain consistency.
Colombia’s revenues increased 12.2% to COP 4,360 billion, owing to strength in wireless revenues. Revenues from Austria, Brazil, Peru, Central America and Other European regions witnessed year-over-year growth of 2.9%, 7.4%, 4.5%, 9.6%, and 12.3%, respectively. Revenues from Mexico declined 0.7%.