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AMX.N

ISIN: US02364W1053
SEDOL: 2722670

Rating:

BUY

Target Price:

69.55 USD

Investment Horizon:

6 to 24 months
3rd Feb 2010 View Report   Download

4Q 09 News Alert

América Móvil S.A. de C.V.'s (AM) 4Q 09 results reported strong y-o-y revenue growth, broadly in line with our estimate, aided by robust data business growth. Despite strong top-line performance, margins were below our estimates due to higher-than-expected cost of sales, Depreciation & Amortization (D&A;) and tax expenses, partially offset by lower-than-expected Selling, General & Administrative (SG&A;) expenses....

14th Dec 2009 View Report   Download

3Q 09 Update Report

In 3Q 09 AMX continued to report robust growth in revenues, driven by higher-than-expected ARPU performance. Although, the subscriber-base growth is expected to decline until the end of FY 2009, we continue to anticipate strong performance in Brazil and TracFone (US) to drive subscriber-base growth, going forward. Moreover, despite lowering our subscriber-base growth estimates, we expect moderate revenue performance from Mexico…

27th Oct 2009 View Report   Download

3Q 09 News Alert

América Móvil S.A. de C.V.'s (AM) 3Q 09 results reported strong y-o-y revenue growth, above our estimate, aided by healthy wireless subscriber additions, primarily in Brazil, Chile and the US. Services revenues experienced strong growth, supported by healthy performance from the Data business while Equipment revenues registered flattish growth in 3Q 09. Despite strong top-line performance, margins were in line with our estimates due to higher-than-expected cost of sales....

18th Aug 2009 View Report   Download

2Q 09 Update Report

We continue to believe that strong performance in terms of subscriber-base growth from Mexico, Brazil and Tracfone will drive revenue growth, going forward. Strong 2Q 09 numbers have clearly suggested that the telecom sector has largely remained insulated from the current economic crisis and people in Mexico and South America have not significantly reduced their mobile usage. Moreover, the focus of AMX management on 3G data services and increasing…

22nd Jul 2009 View Report   Download

2Q 09 News Alert

América Móvil S.A. de C.V.'s (AM) 2Q 09 results reported strong y-o-y revenue growth, aided by healthy wireless subscriber additions, primarily in Brazil, Peru and the US. Services revenues also experienced strong growth, supported by healthy performance from the Data business, reflecting the continuous boost in revenues due to increasing adoption of 3G services in the region. Margins surpassed our expectations due to…