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Mexico’s America Movil says second-quarter profit up 32.7 percent

22
Jul
2014

America Movil said on Monday that its profit in the second quarter rose 32.7 percent from a year earlier on lower financial and exchange-rate costs but missed analysts expectations. The telecommunications company, controlled by the worlds richest man Carlos Slim, said that profit rose to 18.83 billion pesos ($1.45 billion) from 14.19 billion pesos in the April-June period last year. America Movil had been expected to report a net profit of 20.74 billion pesos ($1.6 billion), according to a Reuters poll of five analysts. The company had a net exchange-rate gain of 3.08 billion pesos in the quarter, helped by a stronger peso.

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