America Movil posted a loss of $174 million (2.88 billion Mexican pesos) in the third quarter of 2015 thanks to just over $2.7 billion (45 billion pesos) in foreign exchange losses, the company announced Monday.
According to America Movil, the exchange losses were driven by market volatility and currency depreciation in the third quarter. Overall, however, third-quarter revenues were up 1.2 percent year over year, for a nine-month total of around $40 billion (663.6 billion pesos).
The company, which has also faced the threat of increased competition from AT&T and Telefonica in Mexico, said it ended the month of September with 368.2 million access lines, including 288.4 million wireless subscribers. The company added nearly 836,000 postpaid wireless subscribers in the third quarter, the majority of which came from Mexico, Brazil and customers in its European markets.
America Movil’s postpaid subscriber base was also up 5.1 percent year over year and currently stands at 61.5 million.
The carrier saw the fastest third-quarter growth in Chile (8.4 percent year over year), followed by Central America (5.7 percent) and Mexico (3.6 percent). The carrier’s number of wireless subscribers in the United States was down less than one percent year over year, dropping from 25.9 million to 25.7 million.