América Móvil reported fourth‑quarter 2025 results that included a revenue of $14.2 billion, up 3.4 % year‑over‑year, and an earnings‑per‑share of $0.32, falling short of the $0.43 consensus estimate. The revenue beat was driven by a 6.2 % rise in mobile service revenue, a 5.8 % increase in prepaid revenue, and a 7.5 % jump in post‑paid revenue, while fixed‑line and fiber services grew 2.1 % and 4.3 % respectively. Strong demand for 5G and fiber, coupled with a 2.5 million‑subscriber addition in the wireless segment, helped offset the modest headwinds in legacy markets.
The company’s profitability improved markedly: EBITDA margin expanded to 38.8 % from 37.5 % a year earlier, and net profit surged fourfold, largely due to a sharp decline in financing costs after a period of higher interest expenses. Operating income rose 5.6 % YoY, reflecting disciplined cost management and a favorable revenue mix that tilted toward higher‑margin services.
América Móvil’s finance chief, Carlos Garcia, said the firm is preliminarily targeting capital expenditures of 14‑15 % of revenue for 2026 and the years ahead, a sharp reduction from the $7 billion spend in 2024. The guidance signals a shift to a “harvest” phase, in which the company will focus on monetizing the infrastructure it has built rather than expanding it. CEO Daniel Hajj noted a “slight deceleration in all economies,” which partly explains the lower CapEx target, while the company remains confident in its ability to generate cash from its expanded 5G and fiber footprint.
The guidance also reflects management’s intent to strengthen the balance sheet and increase free‑cash‑flow generation, thereby supporting shareholder‑return initiatives such as dividends and share buybacks. By tying CapEx to revenue, América Móvil aims to maintain competitive network quality while improving financial flexibility in a more mature market environment.
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