América Móvil’s net profit (earnings) of 24.1 billion pesos (US$ 2.1 billion) increased 14.1% in the second quarter of 2011, compared to the same period year earlier. Earnings were equivalent to 61 peso cents per share and US$ 1.04 per ADR. At the end of June, the carrier’s net debt was equivalent to 0.87 times the EBITDA of the last twelve months.
During that period, América Móvil’s revenues rose 7.8% to 160 billion pesos with service revenues expanding at roughly the same rate, or 7.6%. Mobile revenues rose 9.4%, helped along by mobile data revenues that increased 26.7% whereas fixed-line revenues increased 5.2% on the back of PayTV and broadband revenues. América Móvil is Latin America’s largest cellular phone company by subscribers.
América Móvil added 5.1 million wireless subscribers and 1.4 million revenue generating units (RGUs), finishing the quarter with 290 million lines of service, up 12.1% from the second quarter of 2010. Overall, the lines of service are comprised of 236 million wireless subscribers, 28.9 million landline customers, 14 million broadband accounts and 11.6 million PayTV units.
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In Latin America operations, the company reported that gained 1.3 million wireless subscribers in Mexico (22.2% more than the year before), and 2.1 million in Brazil, which is a 59% increase. In Colombia, América Móvil added 699 thousand subscribers, almost three times as many as gained during the same period of 2010.
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