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America Movil (AMX) Q3 Earnings & Revenues Increase Y/Y
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America Movil, S.A.B. de C.V. (AMX - Free Report) reported net income per ADR of 28 cents for third-quarter 2022, up from 24 cents reported in the prior-year quarter.
Net income in the September quarter was Mex$17,969 million or Mex$0.28 per share compared with Mex$15,811 million or Mex$0.24 per share in the year-ago quarter.
The company had a comprehensive financing cost of Mex$16,469 million, down 34.2% compared with the year-earlier quarter’s comprehensive financing costs of Mex$25,033 million.
Amid rising inflation, the hawkish tone of the Federal reserve saw renewed increase in U.S. interest rates in the latter half of the third quarter, added the comapany.
America Movil, S.A.B. de C.V. Price, Consensus and EPS Surprise
Backed by strong demand for broadband services, total quarterly revenues increased 3.3% to Mex$214,466 million. Higher service revenues acted as a major tailwind.
Service revenues were Mex$179,716 million, up 3% year over year. Equipment revenues totaled Mex$32,495 million, down 5.4%.
America Movil gained 2.9 million wireless subscribers in the third quarter. This figure includes 1.9 million postpaid subscribers. Brazil, Austria, Colombia and Peru were the primary contributors to postpaid subscriber growth. The company witnessed an increase of 1 million in prepaid subscribers. The company had 307.8 million wireless subscribers at the end of the third quarter.
On the fixed-line platform, the company ended the quarter with 74.5 million revenue-generating units.
The telco operates in multiple regions, namely Mexico, Brazil, Colombia, Peru, Ecuador, Chile, Argentina, Central America, the Caribbean, Austria and Other European countries.
Of these countries, Peru witnessed year-over-year revenue growth of 1.1% to 1,584 million Soles. The robust performance was driven by higher wireless and service revenues.
Argentina’s revenues came in at ARS 66,274 million, down12.8% from the year-ago quarter’s levels. The downside was caused by declining service, fixed line, equipment and wireless revenues.
Colombia’s revenues increased 1.1% year over year to COP 3,690 billion, owing to higher service and fixed line and wireless revenues.
Revenues from Mexico, Brazil, Ecuador, Central America, the Caribbean, Austria and Other European region witnessed year-over-year growth of 3.1%, 9.9%, 2.4%, 5.4%, 5.8%, 4.5% and 10.1%, respectively. However, Chile saw a 21.5% year-over-year decline in revenues in the reported quarter.
Other Quarterly Details
Total costs and expenses were Mex$131,254 million, up 1.4% from the year-ago quarter’s levels. Overall, EBITDA rose 2.3% (up 5% on constant currency) from the prior-year quarter’s levels to Mex$83,212 million. The EBITDA margin came in at 38.8% compared with 38.6% in the year-earlier quarter. The company’s operating profit increased 5.2% to Mex$43,571 million.
Liquidity
As of Sep 30, 2022, America Movil had Mex$112,845 million in cash, marketable securities and other short-term investments with Mex$380,430 million of long-term debt.
Zacks Rank & Stocks to Consider
America Movil currently has a Zacks Rank #4 (Sell).
The Zacks Consensus Estimate for Pure Storage’s 2022 earnings is pegged at $1.18 per share, up 24.2% in the past 60 days. The long-term earnings growth rate is anticipated to be 35.5%.
Pure Storage’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 171.8%. Shares of PSTG have gained 7.5% in the past year.
The Zacks Consensus Estimate for Blackbaud’s 2022 earnings is pegged at $2.55 per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 3%.
Blackbaud’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 8.5%. Shares of BLKB have lost 26.7% in the past year.
The Zacks Consensus Estimate for CDW’s 2022 earnings is pegged at $9.66 per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 13.1%.
CDW’S earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 6.8%. Shares of CDW have lost 14.5% in the past year.
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America Movil (AMX) Q3 Earnings & Revenues Increase Y/Y
America Movil, S.A.B. de C.V. (AMX - Free Report) reported net income per ADR of 28 cents for third-quarter 2022, up from 24 cents reported in the prior-year quarter.
Net income in the September quarter was Mex$17,969 million or Mex$0.28 per share compared with Mex$15,811 million or Mex$0.24 per share in the year-ago quarter.
The company had a comprehensive financing cost of Mex$16,469 million, down 34.2% compared with the year-earlier quarter’s comprehensive financing costs of Mex$25,033 million.
Amid rising inflation, the hawkish tone of the Federal reserve saw renewed increase in U.S. interest rates in the latter half of the third quarter, added the comapany.
America Movil, S.A.B. de C.V. Price, Consensus and EPS Surprise
America Movil, S.A.B. de C.V. price-consensus-eps-surprise-chart | America Movil, S.A.B. de C.V. Quote
Revenues
Backed by strong demand for broadband services, total quarterly revenues increased 3.3% to Mex$214,466 million. Higher service revenues acted as a major tailwind.
Service revenues were Mex$179,716 million, up 3% year over year. Equipment revenues totaled Mex$32,495 million, down 5.4%.
America Movil gained 2.9 million wireless subscribers in the third quarter. This figure includes 1.9 million postpaid subscribers. Brazil, Austria, Colombia and Peru were the primary contributors to postpaid subscriber growth. The company witnessed an increase of 1 million in prepaid subscribers. The company had 307.8 million wireless subscribers at the end of the third quarter.
On the fixed-line platform, the company ended the quarter with 74.5 million revenue-generating units.
The telco operates in multiple regions, namely Mexico, Brazil, Colombia, Peru, Ecuador, Chile, Argentina, Central America, the Caribbean, Austria and Other European countries.
Of these countries, Peru witnessed year-over-year revenue growth of 1.1% to 1,584 million Soles. The robust performance was driven by higher wireless and service revenues.
Argentina’s revenues came in at ARS 66,274 million, down12.8% from the year-ago quarter’s levels. The downside was caused by declining service, fixed line, equipment and wireless revenues.
Colombia’s revenues increased 1.1% year over year to COP 3,690 billion, owing to higher service and fixed line and wireless revenues.
Revenues from Mexico, Brazil, Ecuador, Central America, the Caribbean, Austria and Other European region witnessed year-over-year growth of 3.1%, 9.9%, 2.4%, 5.4%, 5.8%, 4.5% and 10.1%, respectively. However, Chile saw a 21.5% year-over-year decline in revenues in the reported quarter.
Other Quarterly Details
Total costs and expenses were Mex$131,254 million, up 1.4% from the year-ago quarter’s levels. Overall, EBITDA rose 2.3% (up 5% on constant currency) from the prior-year quarter’s levels to Mex$83,212 million. The EBITDA margin came in at 38.8% compared with 38.6% in the year-earlier quarter. The company’s operating profit increased 5.2% to Mex$43,571 million.
Liquidity
As of Sep 30, 2022, America Movil had Mex$112,845 million in cash, marketable securities and other short-term investments with Mex$380,430 million of long-term debt.
Zacks Rank & Stocks to Consider
America Movil currently has a Zacks Rank #4 (Sell).
Some better-ranked stocks from the broader technology space are Pure Storage (PSTG - Free Report) , Blackbaud (BLKB - Free Report) and CDW Corporation (CDW - Free Report) . Pure Storage and Blackbaud currently sport a Zacks Rank #1 (Strong Buy), whereas CDW carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Pure Storage’s 2022 earnings is pegged at $1.18 per share, up 24.2% in the past 60 days. The long-term earnings growth rate is anticipated to be 35.5%.
Pure Storage’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 171.8%. Shares of PSTG have gained 7.5% in the past year.
The Zacks Consensus Estimate for Blackbaud’s 2022 earnings is pegged at $2.55 per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 3%.
Blackbaud’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 8.5%. Shares of BLKB have lost 26.7% in the past year.
The Zacks Consensus Estimate for CDW’s 2022 earnings is pegged at $9.66 per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 13.1%.
CDW’S earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 6.8%. Shares of CDW have lost 14.5% in the past year.