America Movil S.A.B.DE C.V. - ADR - Series B

Financial Performance: América Móvil reported a 14.1% year-on-year increase in revenue, amounting to MXN232 billion, while service revenue grew by 15.8%. Adjusted EBITDA saw a 13.3% increase. At constant exchange rates, service revenue increased by 6.1% and adjusted EBITDA by 4.0%, indicating solid overall performance despite currency fluctuations.

Subscriber Growth: The company added 2.4 million postpaid subscribers across its regions, with Brazil leading at 987,000 additions, followed by Colombia and Mexico. However, there was a significant loss of 1 million prepaid subscribers primarily attributed to strategies in Mexico and Brazil, highlighting competitive pressures and changing consumer behavior.

Economic Challenges in Mexico: A slowdown in the Mexican economy is affecting consumer behavior, notably in prepaid segments where ARPU is declining as customers reduce spending. The growth of MVNOs with aggressive pricing is exacerbating competition and potentially driving consumers to lower-cost alternatives.