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America Movil (AMX) Q2 Earnings Decline Y/Y, Revenues Rise
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America Movil, S.A.B. de C.V. (AMX - Free Report) reported a net loss per ADR of 2 cents for the second quarter of 2024 against the net income of 46 cents reported in the prior-year quarter.
Net loss in the June quarter was Mex$1,093 million or Mex$0.02 per share against net income of Mex$25,875 million or Mex$0.41 per share in the year-ago quarter.
The company had a comprehensive financing cost of Mex$40,210 million compared with the year-ago quarter’s comprehensive financing cost of Mex$2,104 million.
America Movil, S.A.B. de C.V. Unsponsored ADR Price, Consensus and EPS Surprise
Total quarterly revenues increased 1.5% to Mex$205,524 million due to healthy performance in the Service segment business, offset by poor results from the Equipment business segment.
Service revenues were Mex$175,138 million, up 3.5% year over year. Equipment revenues totaled Mex$28,050 million, down 9.8%.
America Movil gained 2.4 million wireless subscribers in the second quarter. This figure includes 1.8 million postpaid subscribers. Brazil, Mexico and Colombia were the primary contributors to postpaid subscriber growth. The company had 314 million wireless subscribers at the second-quarter end.
On the fixed-line, Broadband and Television platforms, the company ended the quarter with 74.4 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.
Of these countries, Austria witnessed a year-over-year revenue decline of 1.3% to 693 million Euros. The downtick was due to lower equipment revenues.
Argentina’s revenues came in at ARS 413,921 million, up 0.9% from the year-ago quarter. The uptick was caused by increasing service revenues amid downward trends in wireless and equipment revenues. The reported data for Argentina are presented in line with IAS29, reflecting the implications of inflationary accounting, as the Argentinean economy is projected to be hyperinflationary for the first 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 1.2% to COP 3,836 billion, owing to an increase in fixed-line revenues.
Revenues from Mexico, Brazil, Peru, Central America and Other European regions witnessed year-over-year growth of 1%, 6.5%, 3.4%, 6.1 and 3.7%, respectively. Revenues from the Caribbean and Ecuador declined 1.2% and 0.3%, respectively.
Other Quarterly Details
Total costs and expenses were Mex$122,410 million, down 1.1% from the year-ago quarter. Overall, EBITDA increased 5.6% from the prior-year quarter to Mex$83,114 million. The EBITDA margin came in at 40.4%. The company’s operating profit rose 12.9% to Mex$45,508 million.
Liquidity
As of Jun 30, 2024, America Movil had Mex$80,920 million in cash, marketable securities and other short-term investments with Mex$403,527 million of long-term debt.
Zacks Rank & Stocks to Consider
AMX currently carries a Zacks Rank #3 (Hold).
NVIDIA Corporation (NVDA - Free Report) , sporting a Zacks Rank #1 (Strong Buy) at present, delivered a trailing four-quarter earnings surprise of 18.43%, on average. In the last reported quarter, it delivered an earnings surprise of 11.48%. You can see the complete list of today’s Zacks #1 Rank stocks here.
NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit. Over the years, the company’s focus evolved from PC graphics to AI-based solutions that support high-performance computing, gaming and virtual reality platforms.
Motorola Solutions Inc. (MSI - Free Report) provides services and solutions to government segments and public safety programs, along with large enterprises and wireless infrastructure services. Motorola carries a Zacks Rank #2 (Buy) at present.
It delivered a trailing four-quarter average earnings surprise of 7.54% and has a long-term growth expectation of 9.47%. In the last reported quarter, Motorola delivered an earnings surprise of 11.51%.
Silicon Motion Technology Corporation (SIMO - Free Report) , carrying a Zacks Rank #2 at present, delivered a trailing four-quarter average earnings surprise of 4.72%.
It is a leading developer of microcontroller ICs for NAND flash storage devices. The semiconductor company also designs, develops and markets high-performance, low-power semiconductor solutions for original equipment manufacturers and other customers.
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America Movil (AMX) Q2 Earnings Decline Y/Y, Revenues Rise
America Movil, S.A.B. de C.V. (AMX - Free Report) reported a net loss per ADR of 2 cents for the second quarter of 2024 against the net income of 46 cents reported in the prior-year quarter.
Net loss in the June quarter was Mex$1,093 million or Mex$0.02 per share against net income of Mex$25,875 million or Mex$0.41 per share in the year-ago quarter.
The company had a comprehensive financing cost of Mex$40,210 million compared with the year-ago quarter’s comprehensive financing cost of Mex$2,104 million.
America Movil, S.A.B. de C.V. Unsponsored ADR Price, Consensus and EPS Surprise
America Movil, S.A.B. de C.V. Unsponsored ADR price-consensus-eps-surprise-chart | America Movil, S.A.B. de C.V. Unsponsored ADR Quote
Revenues
Total quarterly revenues increased 1.5% to Mex$205,524 million due to healthy performance in the Service segment business, offset by poor results from the Equipment business segment.
Service revenues were Mex$175,138 million, up 3.5% year over year. Equipment revenues totaled Mex$28,050 million, down 9.8%.
America Movil gained 2.4 million wireless subscribers in the second quarter. This figure includes 1.8 million postpaid subscribers. Brazil, Mexico and Colombia were the primary contributors to postpaid subscriber growth. The company had 314 million wireless subscribers at the second-quarter end.
On the fixed-line, Broadband and Television platforms, the company ended the quarter with 74.4 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.
Of these countries, Austria witnessed a year-over-year revenue decline of 1.3% to 693 million Euros. The downtick was due to lower equipment revenues.
Argentina’s revenues came in at ARS 413,921 million, up 0.9% from the year-ago quarter. The uptick was caused by increasing service revenues amid downward trends in wireless and equipment revenues. The reported data for Argentina are presented in line with IAS29, reflecting the implications of inflationary accounting, as the Argentinean economy is projected to be hyperinflationary for the first 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 1.2% to COP 3,836 billion, owing to an increase in fixed-line revenues.
Revenues from Mexico, Brazil, Peru, Central America and Other European regions witnessed year-over-year growth of 1%, 6.5%, 3.4%, 6.1 and 3.7%, respectively. Revenues from the Caribbean and Ecuador declined 1.2% and 0.3%, respectively.
Other Quarterly Details
Total costs and expenses were Mex$122,410 million, down 1.1% from the year-ago quarter. Overall, EBITDA increased 5.6% from the prior-year quarter to Mex$83,114 million. The EBITDA margin came in at 40.4%. The company’s operating profit rose 12.9% to Mex$45,508 million.
Liquidity
As of Jun 30, 2024, America Movil had Mex$80,920 million in cash, marketable securities and other short-term investments with Mex$403,527 million of long-term debt.
Zacks Rank & Stocks to Consider
AMX currently carries a Zacks Rank #3 (Hold).
NVIDIA Corporation (NVDA - Free Report) , sporting a Zacks Rank #1 (Strong Buy) at present, delivered a trailing four-quarter earnings surprise of 18.43%, on average. In the last reported quarter, it delivered an earnings surprise of 11.48%. You can see the complete list of today’s Zacks #1 Rank stocks here.
NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit. Over the years, the company’s focus evolved from PC graphics to AI-based solutions that support high-performance computing, gaming and virtual reality platforms.
Motorola Solutions Inc. (MSI - Free Report) provides services and solutions to government segments and public safety programs, along with large enterprises and wireless infrastructure services. Motorola carries a Zacks Rank #2 (Buy) at present.
It delivered a trailing four-quarter average earnings surprise of 7.54% and has a long-term growth expectation of 9.47%. In the last reported quarter, Motorola delivered an earnings surprise of 11.51%.
Silicon Motion Technology Corporation (SIMO - Free Report) , carrying a Zacks Rank #2 at present, delivered a trailing four-quarter average earnings surprise of 4.72%.
It is a leading developer of microcontroller ICs for NAND flash storage devices. The semiconductor company also designs, develops and markets high-performance, low-power semiconductor solutions for original equipment manufacturers and other customers.