America Movil Posts Drop In Q1 Net Profit

Mexican company América Móvil reported a drop in its net profit for the first quarter. América Móvil reported a quarterly net profit of 8.2 billion pesos ($534 million), versus a year-ago profit of 13.9 billion pesos. Its revenue gained 3.1 percent to 222 billion pesos, while earnings before interest, taxes, depreciation and amortization slipped 3.1 percent to 68.2 billion pesos. During the quarter, América Móvil added 197,000 wireless subscribers.