How the Peso Played Tricks on América Móvil's Earnings
América Móvil's Q3 2023: Revenues down 3.3% due to a stronger peso, service revenue down 4.3%. Profit plummeted by 88.7%, but Ebitda grew at constant exchange rates. 3 million new subscribers, 100 billion pesos in investment expenses.
In a world where business is as unpredictable as a roulette wheel, the Mexican telecom titan, América Móvil, is rolling the dice. The third quarter of 2023 brought both fireworks and shambles, as Carlos Slim's company juggled its revenues, profits, and the exchange rate like a circus act on a tightrope.
América Móvil kicked off the show by invoicing 203,842 million pesos in the third quarter, which, surprisingly, was 3.3% less than their earnings for the same period in 2022. But before you accuse them of financial foul play, here's the twist – it's all about the Mexican peso.
