In April, America Movil had reached 125 cities across Mexico with its 5G network
Mexican telecoms group America Movil ended the second quarter of the year with a total of 12.8 million subscribers in Mexico, according to the carrier’s earnings report.
In Mexico, America Movil operates under the Telcel brand.
During Q2, the telco added 205,000 subscribers to reach a total of 84.2 million wireless subscribers in Mexico.
In April, America Móvil had reached 125 cities across Mexico with its 5G network.
Telcel initially launched its commercial 5G network in February 2022 in 18 of Mexico’s largest cities, using infrastructure from Ericsson and Huawei. Rival operators AT&T Mexico and Movistar also offer 5G technology in the country.
America Movil operates in at least 10 markets, mainly in Latin America. In Europe, the telco partially owns Austrian operator Telekom Austria.
Claro Brasil, the telco’s subsidiary in that country, ended the period with over 10 million 5G customers, while Claro Colombia launched its 5G network in the first quarter of the year. America Movil noted that Claro Colombia also conducted a major overhaul of its 4G network that contributed to revenue growth in the period.
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America Movil added a total of 2.4 million subscribers in the second quarter including 1.8 million postpaid connections, with Brazil contributing 907,000, Colombia 183,000 and Mexico 99,000.
America Movil’s prepaid business added 599,000 customers during the second quarter.
The carrier also added 376,000 broadband accesses, including 148,000 in Mexico and approximately 63,000 each in Argentina and Brazil.
The company’s revenues climbed 1.5% year-on-year to hit MXN205.52 billion ($11.24 billion).
America Movil reported a net loss of MXN1.09 billion in Q2, compared to a net profit of close to MXN26 billion in the same period the previous year. The telco said the depreciation of the local currency was the reason behind the quarterly loss.
“The Mexican peso, which had withstood well the U.S. interest rate volatility, weakened sharply following the Mexican presidential elections on June 2. After months of appreciating vis-àvis, not only the U.S. dollar, but also practically all the currencies in our region of operation, the Mexican peso was to depreciate against all,” the telco said.
During a conference call with investors, company executives said that the firm is investing in 5G across its markets and that the telco remains on track to implement a $7.1 billion capital expenditure plan set for this year.