AMX (Buy, TP: $27, +23%) America Movil Q2 23 - Small revenue/EBITDA miss, net income beat thanks to FX; low Q2 buy back
AMX reported Q2s after close last night. Both revenue and EBITDA slightly missed consensus and our forecasts, but net income beat expectations thanks to FX gains. Ultimately trends are robust, still supported by 1 month of Oi (on a y/y basis), though if there's an area of disappointment for our positive stance it's the still low level of buy back.
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New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
- US Telecoms, Cable, Satellite and Towers
- Global Emerging Market Telecoms
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- Pan European Healthcare
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We provide debt research on:
- Pan European Telecom Services and Cable
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