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Slim's América Móvil earns $2.5 billion net in quarter

Friday, April 27, 2012


America Movil, the biggest cellphone company in Latin America, posted a better-than-expected jump in first-quarter net profit, helped by the addition of Brazilian cable television company Net Servicos and favorable foreign exchange rates.

The company, owned by Mexican tycoon Carlos Slim, earned $2.5 billion in the January-March period, up 37.5 percent from the same quarter of 2011.

America Movil , which added 4.2 million mobile subscribers in the quarter, absorbed Net Servicos earlier this year.



Source: Reuters