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America Movil's (AMX) Q1 Earnings and Revenues Rise Y/Y
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America Movil, S.A.B. de C.V. (AMX - Free Report) reported net income per ADR of 51 cents for first-quarter 2023, up from 47 cents reported in the prior-year quarter.
Net income in the March quarter was Mex$30,146 million or Mex$0.48 per share compared with Mex$30,797 million or Mex$0.48 per share in the year-ago quarter.
The company had a comprehensive financing cost of Mex$374 million, down 94.9% from the year-earlier quarter’s comprehensive financing costs of Mex$7,364 million.
America Movil, S.A.B. de C.V. Unsponsored ADR Price, Consensus and EPS Surprise
Total quarterly revenues increased 1.7% to Mex$208,926 million owing to solid momentum in the equipment business segment.
Service revenues were Mex$169,053 million, down 2.2% year over year. Equipment revenues totaled Mex$31,233 million, up 2.1%.
America Movil gained 1.1 million wireless subscribers in the first quarter. This figure includes 1.9 million postpaid subscribers. Brazil, Austria and Colombia were the primary contributors to postpaid subscriber growth. However, the company witnessed net disconnections of 0.8 million in prepaid subscribers. The company had 301 million wireless subscribers at the end of the first quarter.
On the fixed-line, Broadband and Television platforms, the company ended the quarter with 73.4 million revenue-generating units.
The telco operates in multiple regions, namely Mexico, Brazil, Colombia, Peru, Ecuador, Argentina, Central America, the Caribbean, Austria and Other European countries.
Of these countries, Peru witnessed year-over-year revenue growth of 51.2% to 2,414 million Soles. The robust performance was driven by higher fixed-line and service revenues.
Argentina’s revenues came in at ARS 90,721 million, down 8.3% from the year-ago quarter’s levels. The downside was caused by declining service, fixed lines, and wireless revenues. The reported data for Argentina are presented in line with IAS29, reflecting the implications of inflationary accounting as the Argentinean economy is projected to be hyperinflationary for the first quarter of 2023. The company also stated that Argentina will be left out of all comparisons for consolidated data at constant exchange rates to maintain consistency.
Colombia’s revenues remained constant at COP 3,738 billion, owing to an increase in service revenues and partly offset by lower fixed-line revenues.
Revenues from Mexico, Brazil, Ecuador, Central America, the Caribbean, Austria and Other European regions witnessed year-over-year growth of 8.4%, 11%, 3.8%, 6.2%, 29.8%, 2% and 15.5%, respectively.
Other Quarterly Details
Total costs and expenses were Mex$126,218 million, down 0.7% from the year-ago quarter’s levels. Overall, EBITDA increased 3.2% from the prior-year quarter’s levels to Mex$82,708 million. The EBITDA margin came in at 39.6% compared with 39% in the year-earlier quarter. The company’s operating profit increased 9.7% to Mex$44,125 million.
Liquidity
As of Mar 31, 2022, America Movil had Mex$130,373 million in cash, marketable securities and other short-term investments with Mex$332,861 million of long-term debt.
The company has also approved a share-buyback fund for Mex$20 billion between Apr 2023 to Apr 2024.
Zacks Rank & Stocks to Consider
America Movil currently has a Zacks Rank #3 (Hold).
The Zacks Consensus Estimate for Arista Networks’ 2023 earnings has increased 1.2% in the past 60 days to $5.83 per share. The long-term earnings growth rate is anticipated to be 14.2%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 14.2%. Shares of ANET have increased 32% in the past year.
The Zacks Consensus Estimate for Asure Software’s 2023 earnings has increased 25% in the past 60 days to 35 cents per share. The long-term earnings growth rate is anticipated to be 25%.
Asure Software’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 445.8%. Shares of ASUR have increased 176.1% in the past year.
The Zacks Consensus Estimate for Salesforce’s 2023 earnings has increased 21.5% in the past 60 days to $7.11 per share. The long-term earnings growth rate is anticipated to be 16.8%.
Salesforce’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average surprise being 15.6%. Shares of the company have increased 15.2% in the past year.
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America Movil's (AMX) Q1 Earnings and Revenues Rise Y/Y
America Movil, S.A.B. de C.V. (AMX - Free Report) reported net income per ADR of 51 cents for first-quarter 2023, up from 47 cents reported in the prior-year quarter.
Net income in the March quarter was Mex$30,146 million or Mex$0.48 per share compared with Mex$30,797 million or Mex$0.48 per share in the year-ago quarter.
The company had a comprehensive financing cost of Mex$374 million, down 94.9% from the year-earlier quarter’s comprehensive financing costs of Mex$7,364 million.
America Movil, S.A.B. de C.V. Unsponsored ADR Price, Consensus and EPS Surprise
America Movil, S.A.B. de C.V. Unsponsored ADR price-consensus-eps-surprise-chart | America Movil, S.A.B. de C.V. Unsponsored ADR Quote
Revenues
Total quarterly revenues increased 1.7% to Mex$208,926 million owing to solid momentum in the equipment business segment.
Service revenues were Mex$169,053 million, down 2.2% year over year. Equipment revenues totaled Mex$31,233 million, up 2.1%.
America Movil gained 1.1 million wireless subscribers in the first quarter. This figure includes 1.9 million postpaid subscribers. Brazil, Austria and Colombia were the primary contributors to postpaid subscriber growth. However, the company witnessed net disconnections of 0.8 million in prepaid subscribers. The company had 301 million wireless subscribers at the end of the first quarter.
On the fixed-line, Broadband and Television platforms, the company ended the quarter with 73.4 million revenue-generating units.
The telco operates in multiple regions, namely Mexico, Brazil, Colombia, Peru, Ecuador, Argentina, Central America, the Caribbean, Austria and Other European countries.
Of these countries, Peru witnessed year-over-year revenue growth of 51.2% to 2,414 million Soles. The robust performance was driven by higher fixed-line and service revenues.
Argentina’s revenues came in at ARS 90,721 million, down 8.3% from the year-ago quarter’s levels. The downside was caused by declining service, fixed lines, and wireless revenues. The reported data for Argentina are presented in line with IAS29, reflecting the implications of inflationary accounting as the Argentinean economy is projected to be hyperinflationary for the first quarter of 2023. The company also stated that Argentina will be left out of all comparisons for consolidated data at constant exchange rates to maintain consistency.
Colombia’s revenues remained constant at COP 3,738 billion, owing to an increase in service revenues and partly offset by lower fixed-line revenues.
Revenues from Mexico, Brazil, Ecuador, Central America, the Caribbean, Austria and Other European regions witnessed year-over-year growth of 8.4%, 11%, 3.8%, 6.2%, 29.8%, 2% and 15.5%, respectively.
Other Quarterly Details
Total costs and expenses were Mex$126,218 million, down 0.7% from the year-ago quarter’s levels. Overall, EBITDA increased 3.2% from the prior-year quarter’s levels to Mex$82,708 million. The EBITDA margin came in at 39.6% compared with 39% in the year-earlier quarter. The company’s operating profit increased 9.7% to Mex$44,125 million.
Liquidity
As of Mar 31, 2022, America Movil had Mex$130,373 million in cash, marketable securities and other short-term investments with Mex$332,861 million of long-term debt.
The company has also approved a share-buyback fund for Mex$20 billion between Apr 2023 to Apr 2024.
Zacks Rank & Stocks to Consider
America Movil currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology space are Arista Networks (ANET - Free Report) , Asure Software (ASUR - Free Report) and Salesforce (CRM - Free Report) . Asure Software and Salesforce currently sport a Zacks Rank #1 (Strong Buy), whereas Arista Networks 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 Arista Networks’ 2023 earnings has increased 1.2% in the past 60 days to $5.83 per share. The long-term earnings growth rate is anticipated to be 14.2%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 14.2%. Shares of ANET have increased 32% in the past year.
The Zacks Consensus Estimate for Asure Software’s 2023 earnings has increased 25% in the past 60 days to 35 cents per share. The long-term earnings growth rate is anticipated to be 25%.
Asure Software’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 445.8%. Shares of ASUR have increased 176.1% in the past year.
The Zacks Consensus Estimate for Salesforce’s 2023 earnings has increased 21.5% in the past 60 days to $7.11 per share. The long-term earnings growth rate is anticipated to be 16.8%.
Salesforce’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average surprise being 15.6%. Shares of the company have increased 15.2% in the past year.