The difference compared to last year's quarter is mainly explained by the absence of tower sales during this quarter and by the comparative gains and losses due to exchange fluctuations.
Carlos Slim's telecommunications group, América Móvil, reduced its profits by more than 55% in the first quarter of the year compared to the same period of the previous year, registering a net profit of US$ 798 million.
The difference compared to last year's quarter is mainly explained by the absence of tower sales during this quarter and by the comparison in profits and losses due to exchange fluctuations, according to the company.
Revenues for the first quarter totaled US$12,027 million, a figure 2.7% lower than that achieved between January and March 2023.
Billing for services increased by 1.1% year-on-year, reaching US$ 10,110 million and representing more than 84% of the company's total turnover. Meanwhile, equipment revenue fell 4.1% and the other revenue group experienced a decline of 71.7% year-on-year.
By markets, revenue grew in Mexico by 7.1% compared to the first quarter of 2023, totaling US$ 4,968.9 million, and representing 41.3% of the company's total turnover.
Meanwhile, the turnover increased in Brazil by 5.3% year-on-year, and in Colombia by 1.5%. In Peru, on the contrary, there was a contraction in turnover of 33.4%, in the Caribbean of 20.8%, in Argentina of 16.6% and in Ecuador of 3.1%.
In Central America, revenues remained practically stable (decrease of 0.1% year-on-year), as in Austria (increase of 0.4%) or in Eastern Europe (increase of 0.9%).
The gross operating result (Ebitda) was US$ 4,768 million, 2.6% lower than a year ago, due to the extraordinary sales of towers in the first quarter of 2023 mentioned above that affected the annual comparison.
For its part, operating profit reached US$ 2,413 million, a decrease of 7.6% compared to the previous year.
Finally, net debt, excluding leases, stood at US$23,191.9 million at the end of March, which represents an increase of US$414 million since December 2023.
