America Movil, S.A.B. de C.V. (NYSE:AMX) Q2 2023 Earnings Conference Call July 12, 2023 11:00 AM ET

Company Participants

Daniela Lecuona - Head of Investor Relations

Daniel Hajj - Chief Executive Officer

Carlos Garcia Moreno - Chief Financial Officer

Oscar Von Hauske - Chief Fixed Line Operations Officer

Conference Call Participants

Vitor Tomita - Goldman Sachs

Leonardo Olmos - UBS

Walter Piecyk - Lightshed Partners

Fred Mendes - Bank of America

Phani Kanumuri - HSBC

Carlos de Legarreta - ITAU

Chelsea Colon - Aegon

Operator

Good morning. My name is Nadia and I'll be your conference operator today. At this time, I would like to welcome everyone to the America Movil Second Quarter 2023 Conference Call and Webcast. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

Now I will turn the call over to Mr. Daniel Hajj, CEO of America Movil to begin. Thank you.

Daniel Hajj

Thank you, Nadia. Welcome, everyone. Thank you for being in the America Movil second quarter of 2023 financial and operating report. Carlos is going to make a summary of the results. Carlos, please.

Carlos Garcia Moreno

Thank you, Daniel. Good morning, everyone. During the second quarter, US dollar interest rates remained as volatile as they had been in the first quarter with inflationary pressures stronger than anticipated earlier in the year, the reduction of interest rates by the Fed originally expected to take place in the latter part of 2023 appeared increasingly improbable, giving rise to an upward trend in medium and long-term rates throughout the latter half of the quarter that has continued in July.

We added 2.2 million wireless subscribers in the second quarter, including 1.5 million postpaids. Brazil contributed 632,000, Austria 267,000 and Colombia 171,000. Prepaid net subscriber additions stood at 787,000 with Brazil and Mexico adding almost 200,000 each, and Colombia 185,000.

On the fixed-line segment, we obtained 331,000 broadband accesses, including 140,000 in Mexico, practically identical to the figures in the prior quarter which makes it the second consecutive quarter with strong broadband net additions, 78,000 in Argentina and 45,000 in Brazil. The growth of our mobile subscriber base stayed basically on trend with the postpaid base expanding 8.3% and the prepaid one 5.3%. On the fixed-line platform, broadband access growth picked up a bit to 3% while PayTV accesses remained roughly flat.