América Móvil (AMXL) Q3 2026 earnings summary

Executive summary

• Q3 revenue was MXN 250.6bn, up 7.6% YoY; service revenue and EBITDA grew 5.3% and 6.7% at constant exchange rates, excluding Argentina.

• Net income reached MXN 24.3bn, up 7.0%, while operating profit rose 13.9% to MXN 57.1bn.

• Postpaid additions totaled 3.121mn; broadband accesses increased 390,000, while prepaid base cleanups led to 5.0mn net disconnections.

Financial highlights

• Total revenue was MXN 250.6bn (+7.6%); service revenue reached MXN 211.4bn (+7.2%) and equipment revenue MXN 38.0bn (+11.4%).

• EBITDA was MXN 102.2bn (+8.9% reported); margin was 40.8%, up 0.5 percentage points YoY.

• EBIT was MXN 57.1bn (+13.9%); depreciation and amortization increased 3.1%.

• Net income was MXN 24.3bn (+7.0%); EPS was MXN 0.41 and earnings per ADR were US$0.47.

• Jan-Sep revenue rose 4.3% to MXN 728.5bn, EBITDA 5.5% to MXN 292.6bn and net income 13.1% to MXN 72.0bn.

Outlook and guidance

• 2026–2028 leverage guidance remains 1.2x–1.5x, allowing for buybacks, dividends and M&A.

• CapEx is expected to remain near $7bn next year, with no major budget changes anticipated.

• Mexico prepaid revenue may slow near term amid mandatory number registration; management expects recovery over the medium and long term.

• Brazil pricing decisions for next year remain uncertain amid competition and rising costs.