*Mexico-based telecommunications giant América Móvil has reported a net loss of M$1.09bn (US$60m) in the second quarter of 2024. The company cited “foreign exchange losses resulting mainly from the depreciation of the Mexican peso” as a reason. Revenues for the second quarter of 2024 were M$205.52bn, up from M$202.53bn in the same quarter of 2023. However, comprehensive financing costs rose to M$40.21bn due to foreign exchange losses. The company added 2.4m subscribers in Q2 2024, with significant gains in Brazil (+907,000), Colombia (+183,000), and Mexico (99,000). At the end of June net debt, excluding leases, increased to M$404.2bn up from M$385.41bn in December 2023.
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LatinNews Daily - 17 July 2024
In brief: Mexico’s América Móvil posts net loss in Q2 2024
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