America Movil reported net profit growth of 86 per cent year-on-year in Q2, as it increased its post paid wireless and fixed customer bases and benefited from favourable currency exchange rates.
The group – which operates across the Americas – generated a profit of MXP14.3 billion ($816 million) during the three months to the end of June, which was in part due to the continuation of favourable exchange rate movements experienced during Q1 2017.
While total wireless subscriber numbers of 279.8 million were broadly flat with Q2 2016, the company noted its post paid base grew 5 per cent year-on-year, led by net additions of 124,000 in Brazil and 166,000 in Mexico.
Service revenue increased 8 per cent to MXP215.9 billion in the recent quarter.
In a statement, the company said: “Mexico and the South American block – particularly Colombia, Argentina, Chile, and Peru – were the main forces behind the strong expansion of service revenues. All operations, save one, presented ARPU increases relative to the year-earlier quarter.”
Samsung IoT partnership
Prior to announcing its earnings, America Movil revealed it had signed an agreement with Samsung to test 4.5G and IoT technologies in Mexico and other markets in Latin America.
In a joint statement, the companies said they aimed to examine the impact and development of technologies including VoLTE, VoWiFi, 4×4 MIMO, 256-QAM and IoT in the region.
They added: “Consistently perfecting mobile networks that are capable of withstanding larger volumes of traffic and transactions is essential for the successful deployment of the IoT.”
“By ensuring that both connectivity and the exchange of high-speed mobile data are sustained at all times and in all places, an optimal user-experience will emerge.”