UPDATE 2-America Movil net profit jumps 25 pct, beats forecasts
(Adds analyst quotes, shares, byline)
By Chris Aspin
MEXICO CITY, July 21 (Reuters) - Mexico's America Movil, the largest cell-phone operator in Latin America, posted a 25 percent rise in second-quarter net profit on Monday, beating forecasts after adding 6.1 million new mobile clients.
America Movil(AMXL.MX)(AMX.N), controlled by billionaire tycoon Carlos Slim, said April-June net profit was a better-than-expected 17.7 billion pesos ($1.7 billion) versus 14.1 billion pesos a year ago.
"I think it was a very good set of results ... 6.1 million new lines is a lot," said Gerardo Copca, analyst at consultancy MetAnalisis.
Total subscribers in the region, where it competes with Spain's Telefonica (TEF.MC), reached 165.3 million.
"The super positive news is the growth in subscribers," said Martin Lara, analyst with Vector brokerage.
Brazil led the way with 1.9 million net additions, followed by Mexico with 1.3 million and Colombia with 1.1 million.
"Strong subscriber growth characterized our second quarter, with net additions ... that exceeded both those registered in the prior quarter and the ones seen a year before," America Movil said in a statement.
Also driving net profit was more general phone usage. Minutes of use in Mexico grew nearly 40 percent in the quarter.
Revenue rose 13.6 percent to 84.6 billion pesos and core earnings before interest, taxes, depreciation and amortization (EBITDA) totaled 34.7 billion pesos, up 13.7 percent from the same quarter a year ago.
A prior Reuters survey forecast that America Movil would post a 16 billion pesos net profit.
Analysts said they expect America Movil's share price to move up slightly on Tuesday but do not see it skyrocketing on the news as revenue and EBITDA were slightly below forecasts.
"I would expect the market to take the results well, but not euphorically," said Copca.
"I see little reaction in the stock price, maybe slightly positive on the results," Vector's Lara said.
America Movil shares ended Monday down 2.22 percent to 26.43 pesos. Its New York-traded stock dropped 2.02 percent to $52.03.
($1 = 10.307 pesos at end June) (Additional reporting by Tomas Sarmiento; Editing by Gary Hill)
