AMX (Buy, TP: $22, +20%) AMX - Q2 24: EBITDA beat, trends high-end/above MT guide, strong Buy back
AMX reported robust Q2 numbers after close, coming in ~3% ahead of consensus EBITDA. Revenue growth of 4.7% is toward the top of the mid-term guide, EBITDA at 6.9% is ahead. Brazil was the standout business (with Claro likely to be performing ahead of TIM and Vivo) whilst Mexico was solid (though holding price flat isn’t helping near-term revenue momentum)
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