Carlos Slim’s America Movil posted disappointing results today confirming a 17.9% drop in earnings in Q2 2010 compared to the same quarter last year. This was a result of extraordinary exchange rate gains in the second quarter of 2009, the company…
Carlos Slim’s America Movil posted disappointing results today confirming a 17.9% drop in earnings in Q2 2010 compared to the same quarter last year. This was a result of extraordinary exchange rate gains in the second quarter of 2009, the company claimed.
America Movil earned Ps18.7bn (US$1.45bn) in the April-June period. Revenues rose 11.9% to Ps101bn (US$7.9bn) boosted by a 41.6% increase in data services. Income for the first half of the year rose 10.9% to Ps200bn (US$15.7bn) compared to 1H’09. EBITDA rose 9.4% year-on-year to Ps42bn (US$3.3bn) in Q2 2010.
