America Movil SAB de CV ADR - Series B

AMX: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$65.00	Xqjwwcs	Ysdycdkkrp

Mexican Wireless Strength Offset Broadband Weakness During America Movil’s Q4

Michael Hodel

Feb 16, 2023

The Mexican wireless business was a key bright spot for America Movil in an otherwise underwhelming fourth quarter. Total service revenue declined 1.4% year over year largely thanks to the strong Mexican peso versus the Colombian peso and the euro. Adjusted for currency movements, revenue would have increased about 6%. We are maintaining our fair value estimate at $21 per ADR and view the shares as fairly valued.

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