America Movil benefited from foreign exchange gains of around MXN22.6 billion ($1.1 billion) in Q1, delivering a boost in all key financial metrics.

The Mexico-headquartered operator reported net income increased from just MXN1.8 billion in Q1 2021 to MXN30.8 billion, with revenue up 2.4 per cent to MXN211.2 billion, primarily owing to a 6.3 per cent increase in mobile service turnover.

America Movil noted mobile service revenue in Brazil increased 10.3 per cent, Peru 9.7 per cent and Mexico 9.5 per cent.

However, Colombia was broadly unchanged, while Chile reported an 8.6 per cent decline.

A1 Telekom Austria recorded a 12.1 per cent increase in mobile subscriber numbers to 8.1 million, with service revenue up 5.3 per cent.

Overall, America Movil added 3.2 million new mobile subscribers for a total of 290 million. This included 1.9 million post-paid users, taking its total to 110 million, up 8.4 per cent.