América Móvil (AMXL) Q3 2025 earnings summary

Executive summary

• Added over 3 million postpaid clients in Q3, with Brazil, Colombia, Peru, and Mexico as key contributors; fixed broadband accesses grew by 526,000, led by Mexico, Brazil, Argentina, and Colombia.

• Total accesses reached 408 million, including 140 million postpaid clients and 79 million fixed-line IUUs.

• Mobile service revenue posted its best growth in two years, driven by both prepaid and postpaid segments.

• Net disconnections of 31,000 in prepaid, mainly from Brazil, Ecuador, and Chile.

Financial highlights

• Third quarter revenue was MXN 232.9 billion, up 4.2% in MXN and 6.2% at constant exchange rates year-over-year; service revenue matched this growth.

• EBITDA reached MXN 93.8 billion, up 4.9% in MXN and 6.8% at constant exchange rates year-over-year; margin stable at 40.3%.

• Operating profit was MXN 50.1 billion, up 5.6% in nominal terms and 6.4% at constant exchange rates.

• Net income surged to MXN 22.7 billion, up 253% year-over-year, equivalent to MXN 0.38 per share or USD 0.40 per ADR.

• Free cash flow for Jan–Sep was MXN 53.0 billion, a 47% increase year-over-year.

Outlook and guidance

• Expectation that EBITDA will continue to expand more rapidly than revenue in coming quarters.

• Mobile service revenue growth driven by Mexico, Colombia, and Chile, with local currency growth rates of 4.9%, 7.8%, and 13.1% respectively.

• Free cash flow covered shareholder distributions, equity investments, labor obligations, and reduced net debt by MXN 15.7 billion.

• Mobile prepaid revenue recovery in Mexico is closely tied to macroeconomic conditions, with optimism for continued improvement if the economy strengthens.

• Corporate network revenue remains volatile due to contract and IT project pipeline.