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America Movil boosted by Brazil

Wednesday, April 30, 2014

America Movil, the telecoms company controlled by billionaire Carlos Slim, is getting a boost from Brazil as competitors encroach on its home market of Mexico.

The mobile-phone company’s first-quarter earnings rose 1.7 percent from a year earlier to $4.95 billion.

The Mexico City-based company said it added 2.3 million wireless users, compared with a 3.2 million average estimate, after disconnecting 980,000 prepaid clients who weren’t using their phones enough.

Source: Bloomberg