America Movil Falls to 7-Year Low as Mexico Woes Continue
- Carrier’s Mexico margins narrow amid stiff competition
- Service revenue increases as key currencies rise against peso
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America Movil SAB, the Latin American wireless carrier controlled by billionaire Carlos Slim, sank to a seven-year low after reporting disappointing profit with its Mexican unit under siege from competitors and regulators.
Earnings before interest, taxes, depreciation and amortization fell 11 percent from a year earlier to 61 billion pesos ($3.23 billion), the Mexico City-based company said Thursday in a statement. Analysts had projected 64.5 billion pesos on average. The shares dropped 2.4 percent to 10.78 pesos, the lowest closing price since April 2009.