America Movil SAB de CV (AMX) Earnings Date & Reports

Key Takeaways

• Net profit rose 7% to MXN 24.28 billion (about $1.32 billion), up from MXN 22.7 billion a year earlier.
• Total revenue increased 7.6% to MXN 250.63 billion, driven by a 7.2% rise in service revenue.
• EBITDA (earnings before interest, taxes, depreciation, and amortization) climbed 8.9% to MXN 102.16 billion, while operating profit rose 14% to MXN 57.11 billion.
• Results landed below LSEG consensus, which had modeled net profit of about $1.51 billion on revenue of roughly $14.05 billion.
• América Móvil added 3.1 million mobile subscribers, led by Brazil, ending the quarter with 332.4 million.
• A weaker Mexican peso produced a MXN 3.6 billion exchange loss, versus a MXN 6.3 billion gain in the year-earlier quarter.

Earnings Context and Why It Matters

América Móvil, S.A.B. de C.V. is Latin America's largest telecommunications operator, controlling Mexico's Telcel and a broad footprint spanning Brazil, Colombia, and markets in Europe. Its third-quarter results carry weight far beyond a single stock because they reflect regional demand for mobile and broadband services, competitive intensity, and the impact of foreign-exchange swings on a company that reports in pesos but borrows and operates across multiple currencies. The July–September period also tested whether recent subscriber momentum in Brazil and prepaid-to-postpaid migration could offset softer trends in Mexico, where Telcel's subscriber base has declined year over year. Investors watch this report closely for signs of pricing power and margin resilience.

Reported Results

América Móvil reported third-quarter net profit of MXN 24.28 billion ($1.32 billion), a 7% increase from MXN 22.7 billion in the same period of 2025. Profit was equivalent to MXN 0.41 per share, or $0.47 per ADR (American depositary receipt, a certificate representing shares in a foreign company that trades on a U.S. exchange).

Revenue rose 7.6% to MXN 250.63 billion, including a 7.2% increase in service revenue. Management noted that a September depreciation of the Mexican peso lifted reported figures, while on a constant-currency basis service revenue grew 5.3%. Despite the headline gains, the results came in below analyst expectations compiled by LSEG, which had projected net profit of approximately $1.51 billion on revenue of about $14.05 billion.

Profitability measures showed strength: EBITDA rose 8.9% to MXN 102.16 billion, and operating profit increased 14% to MXN 57.11 billion. However, the weaker peso weighed on financial costs, generating a MXN 3.6 billion exchange loss compared with a MXN 6.3 billion exchange gain a year earlier.

On the subscriber front, the company added 3.1 million mobile subscribers during the quarter, led by Brazil, while disconnecting 5 million prepaid lines largely in Mexico and Colombia. Mobile subscribers totaled 332.4 million at quarter-end. Broadband customers rose by 390,000 to 38.2 million, and fixed-line subscriptions edged up 0.2% to 80.3 million.

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Market Reaction and Investor Sentiment

Heading into the report, sentiment was mixed. América Móvil had struggled against consensus estimates in recent quarters, and analysts had been trimming their earnings forecasts over the prior months. The third-quarter print reinforced that pattern: solid operational growth and a meaningful increase in profitability, but a bottom line that fell short of Street expectations and a currency-driven drag on financial results. The disconnect between healthy subscriber additions in Brazil and a shrinking Telcel base in Mexico also framed investor debate, as competitive repositioning in the Mexican telecom market — including reported deal activity among rivals — kept the domestic outlook in focus.

Forward Outlook and Key Factors to Monitor

Looking ahead, investors will be watching whether América Móvil can convert its subscriber growth into sustained margin expansion, particularly in Brazil, which drove the bulk of the quarter's mobile additions. Continued prepaid-to-postpaid migration remains a central theme, as postpaid customers typically generate higher, more stable revenue.

Currency exposure is likely to remain a swing factor. Because América Móvil reports in Mexican pesos while operating across multiple markets, peso volatility can distort reported revenue, profitability, and financial costs — as it did this quarter, when a sharp September depreciation reversed earlier gains.

In Mexico, the competitive landscape bears monitoring. Telcel's subscriber base declined year over year, and the broader market is undergoing restructuring, with reported consolidation activity among competitors. How América Móvil responds on pricing and network investment could shape domestic trends in the quarters ahead.

Finally, capital allocation remains in focus. The company has maintained a significant capex program and pursued fiber acquisitions, and management's commentary on leverage and investment priorities will help investors gauge the balance between growth spending and shareholder returns.

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