América Móvil Posts Drop In Q4 Profit

reported a decline in its net profit for the fourth quarter. América Móvil posted a quarterly net profit of 3.6 billion pesos ($240 million), down from 16.3 billion pesos, in the year-ago quarter. Earnings per share slipped to 0.05 pesos from 0.23 pesos, while earnings per ADR fell to $0.08 from $0.35. Its revenue rose to 229.3 billion pesos. The company's earnings before interest, taxes, depreciation and amortization fell 0.7% to 67.7 billion pesos. However, operating profit shrank 11% to 33.6 billion pesos. During the quarter, América Móvil added 2.6 million and ended last year with 289.4 million wireless subscribers. América Móvil shares fell 1.15% to close at $21.51 yesterday.