By Anthony Harrup


MEXICO CITY--Mexican telecommunications company América Móvil SAB said its second-quarter net profit fell from a year earlier on higher financial expenses, while sales and operating profit rose.

Latin America's largest telecommunications concern in Latin America by subscribers, controlled by Mexican billionaire Carlos Slim, reported net profit of 13.7 billion Mexican pesos ($656 million) for the April-to-June period, equivalent to 0.21 pesos a share or $0.21 an American depositary receipt.

Profit was down 68% from 42.8 billion pesos in the second quarter of 2021 as financial costs increased to 18.1 billion pesos, compared with a financial gain of 17.2 billion the previous year which included a large foreign exchange gain.

Revenue rose 3.3% to 217.4 billion pesos, with service revenue up 4.5%. Mobile service revenue rose 8.5% at constant exchange rates, boosted by the acquisition of certain assets of Brazil's Grupo Oi that included 12.9 million wireless subscribers.

Earnings before interest, taxes, depreciation and amortization, a measure of profitability, rose 4% to 82.7 billion pesos, and operating profit rose 3.9% to 41 billion pesos.

Aside from the Oi acquisition, América Móvil added 3.1 million subscribers--1.8 million postpaid and 1.3 million prepaid--to end June with 305.8 million. Fixed-line subscriptions increased by 92,000 to 74.6 million, with the addition of 186,000 broadband customers, partly offset by the loss of pay TV customers and landline disconnections.


Write to Anthony Harrup at anthony.harrup@wsj.com


(END) Dow Jones Newswires

07-12-22 1824ET