America Movil's Q3 Earnings and Revenues Rise Y/Y, Stock Gains

Core Insights - America Movil reported a net income per ADR of 11 cents for Q3 2024, an increase from 4 cents in the same quarter last year, but fell short of the Zacks Consensus Estimate by 73.17% [1] - Total quarterly revenues increased by 9.6% to Mex$223,458 million, driven by growth in both Service and Equipment segments [2] - The company gained 1.8 million wireless subscribers in Q3, including 1.4 million postpaid subscribers, with Brazil, Mexico, and Colombia being the main contributors [2] Financial Performance - Net income for the quarter was Mex$6,427 million, compared to Mex$2,028 million in the prior year [1] - Comprehensive financing costs decreased by 4.8% to Mex$28,323 million from Mex$29,740 million [1] - Total costs and expenses rose by 8.1% to Mex$134,036 million, while EBITDA increased by 11.9% to Mex$89,422 million, resulting in an EBITDA margin of 40% [6] Regional Performance - Revenues from Argentina increased by 10% to ARS 493,726 million, attributed to rising service revenues despite a decline in equipment revenues [4] - Colombia's revenues grew by 4.5% to COP 3,905 billion, driven by strong equipment sales [4] - Ecuador experienced a revenue decline of 2.3% to $253 million due to macroeconomic challenges [3] Subscriber Growth - The company ended the quarter with 315.8 million wireless subscribers, including 74.6 million revenue-generating units in fixed-line, Broadband, and Television platforms [2] Market Reaction - Following the earnings announcement, America Movil's shares rose by 2% in pre-market trading on October 16, 2024, although the stock has decreased by 4.1% over the past year [1]