Mexico’s America Movil Q4 net profit tumbles 90%

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Net profit stood at $703 million (13.71 billion pesos).

The company, which is controlled by the family of Mexican billionaire Carlos Slim, posted a 2.4% decrease in revenues, partly driven by the appreciation of the Mexican peso versus other Latin American currencies.

Revenues reached 215.962 billion pesos.

Earnings before interest, taxes, depreciation and amortization (EBITDA), or core earnings, was 84.8 billion pesos, an decrease of about 4.4%% in nominal terms from a year ago.

($1= 19.5089 Mexican pesos)