Sunday, October 24, 2010 11:57:20 AM
Thu Oct 21, 2010 1:49pm EDT
MEXICO CITY, Oct 21 (Reuters) - Mexico's America Movil, one
of the world's top telecommunications companies, is seen
posting a 35 percent jump in third quarter profit next
Wednesday as billionaire Carlos Slim's flagship consolidates
his Americawide fleet of firms.
America Movil (AMXL.MX) (AMX.N) probably had net earnings
of 25.239 billion pesos ($1.999 billion) in the July to
September period, according to the average estimate of eight
analysts consulted by Reuters.
America Movil's report next week will be the first to
showcase the results of this year's consolidation of Slim's
wireless, fixed line and cable assets across Latin America, the
United States and the Caribbean.
Analysts expect revenue from data services, such as
streaming video, to pad growth from mobile companies even as
margins will be crimped due to the inclusion this quarter of
results from fixed-line firms.
After years of fast growth, Slim has strung up a network
that UBS said in a recent report is unrivaled on the planet,
wiring the hemisphere from north to south.
Third quarter revenue was expected to surge 57 percent to
156.902 billion pesos. Earnings before interest, tax,
depreciation and amortization (EBITDA) was seen 52 percent
higher for the period, compared to last year, at 61.305 billion
pesos.
Goldman Sachs analyst Lucio Aldworth expects EBITDA margins
to be 3 percent lower as fixed-line assets pressure the
profitability of the mobile business. Slim's Mexican fixed-line
company Telmex has been hurt by increasing competition.
The company likely added 4.58 million mobile clients during
the third quarter, up nearly 15 percent from the same period a
year ago.
In June, America Movil acquired dominant Mexican fixed-line
operator Telmex (TELMEXL.MX) and regional fixed-line operator
Telmex Internacional (TELINTL.MX), both of which Slim had
majority-owned.
Slim is aiming to improve efficiencies as competition heats
up with Spain's Telefonica (TEF.MC) to dominate Latin America's
market.
http://www.reuters.com/article/idCNN2123456320101021?rpc=44
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