MEXICO CITY-Mexican carrier America Movil this week released first-quarter 2004 financial results for its U.S.-based prepaid subsidiary Tracfone Wireless Inc.
During the quarter, Tracfone gained 395,000 new subscribers, bringing its total subscriber base to 3.3 million customers. Revenue was $174 million, up 55.7 percent from the first quarter of last year. Minutes of use were up 6.8 percent from last year, but average revenue per user was down 8 percent. The company also said it turned an operating profit of $5 million, or 2.9 percent of revenues, compared with last year’s $10 million loss.
Parent company America Movil meanwhile added 2.9 million subscribers, which it said solidifies its position as the leading wireless operator in Latin America. The company now counts 46.7 million wireless subscribers and 1.7 million fixed line subscribers.
