America Movil hailed strong mobile service revenue growth across the bulk of its operating markets, as it reported a significant hike in net profit for Q4 2019.
In an earnings statement, the Mexico-based operator highlighted several of its operations achieved their their “best performances in more than a year – if not ever” in terms of mobile service revenue growth, when measured at constant exchange rates.
Service revenue was up in Brazil, Dominican Republic, Colombia, the Caribbean, Mexico, Central America and its European operations. However, it registered declines in Peru, Argentina, Chile and Ecuador.
America Movil ended Q4 with 278 million wireless subscribers, with 1.9 million post-paid additions during the quarter. A recent focus on Brazil appeared to pay off, with the nation contributing 1.2 million of its new post-paid users in the quarter.
Net profit increased 63.4 per cent year-on-year to MXN21.2 billion ($1.14 billion) though revenue of MXN263 billion was flat due to appreciation of the Mexican peso against all other currencies in markets where the company operates.