América Móvil Surges Ahead Amid Global Economic Uncertainty
In a surprise move that has left analysts and investors alike in awe, América Móvil reported impressive financial results for its second quarter of 2026. Despite the ongoing Iran war and subsequent oil price hikes, the company managed to grow its revenue by 3.1% year-over-year in MXN terms.
Citing concerns over inflation worldwide and higher interest rates, Carlos García Moreno, CFO, explained that the recent increase in U.S. Treasury note yields had not dampened the dollar's value against most currencies in América Móvil's operational region. In fact, the Colombian peso depreciated by 6% versus the USD during this quarter.
The addition of 3.5 million postpaid subscribers was a major highlight, with Brazil leading the way with 1.5 million new customers, followed closely by Colombia and Peru. The prepaid segment also saw a significant increase, with 3 million net losses cleaned up in Colombia and Argentina. América Móvil's fixed-line segment continued to grow, with 531,000 new broadband accesses connected, driven largely by Mexico and Brazil.
Mobile postpaid and fixed broadband accesses remain the primary drivers of growth for América Móvil's customer base, increasing at a faster pace of 9.1% and 6.1%, respectively, compared to the year-earlier quarter. Pay TV added 110,000 units, with most coming from Argentina, Eastern Europe, and Central America.
"We're pleased to see our mobile service revenue maintain its growth momentum at 6.5%, while fixed-line service revenue accelerated to 2.7%," said Daniel Hajj, CEO, in a statement. "The turnaround in the Pay TV segment is particularly noteworthy, with Brazil leading the charge."
At constant exchange rates, América Móvil's service revenue increased by 5.1%, while EBITDA rose by 5.3%. Operating profit totaled MXN 51.8 billion, a 9.5% increase from the year-earlier quarter. Net income reached MXN 24 billion, representing a 9.2% growth over the same period last year.
Throughout the first half of 2026, América Móvil invested MXN 48 billion in capital expenditures and bought back shares worth MXN 4.6 billion. These initiatives, coupled with net dividend income of MXN 1.1 billion, allowed the company to reduce its net debt by MXN 3.9 billion.
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