Platforms revenues continued to increase rapidly 35% year-on-year. Our South American operations presented strong revenue increases across all product lines. Throughout Mexico, Central America and the Caribbean saw solid increases in mobile data revenues that continue declines in fixed line both revenues.
EBITDA totaled 64 billion pesos and was up 1% year-on-year or 1.8% at constant exchange rates, cost increases more rapidly and revenues principally in Mexico and Brazil. This came about after results were being done to expand the original capacity of private networks including backbones, metropolitan rings, backhaul, fiber to the work and to the home and generally all the elements of IP and PLF networks.
And greater maintenance expenditures included the replacement of copper by fiber or the accelerated growth of our postpaid rates, and in Brazil of the cost associated with the development of the Pay-TV services, including subscriber acquisition cost and the purchase of content. EBITDA declined 2.7% in Mexico and approximately 7% in Brazil and the Caribbean. But it expanded approximately 40% in Chile and the U.S., more than 20% in Peru and Colombia, between 10% and 20% in Argentina and Ecuador, with Central America working 8%.
Operating profit were down 3.3% basically because of an acceleration in depreciation charges in various countries to make room for the new investments being undertaken. Hence, depreciation charges increased 9.4% and now represent 14.2% of revenues.We obtained a net profit of 18.7 billion pesos in the quarter, it was down 21% from the year before on account of foreign exchange losses resulting from the sharp depreciation of various currencies vis-à-vis the US dollar and the fact that a portion of our net debt is exposed to dollars and other hard currencies.It is to be noted that approximately 12.5% of our revenues are dollar-based with nearly 4% more coming from countries with currencies pegged to the dollar. Accounting wise, exchange rate depreciation generated foreign exchange losses and the dollar exposure on the debt side, but do not generate the corresponding FX gains on the expected stream of dollar-based revenues.Read the rest of this transcript for free on seekingalpha.com
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV