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  • Mexican billionaire Carlos Slim's flagship company America Movil, the telecommunications giant, reported a first-quarter net loss of 29 billion pesos (about $1.20 billion). The company, one of the world's largest mobile network operators, said Tuesday total revenue in the year's first three months was 250 billion pesos ($10 billion). These figures show "a limited impact so far of the pandemic (of the new coronavirus). Our consolidated results were solid and all of our main operations performed well," America Movil said in a statement. However, the statement acknowledged after countries applied contingency measures -- mostly in mid-March -- "operational trends began to change." America Movil had reported a 63 percent year-on-year increase in its earnings for the fourth quarter of 2019, with a profit of 21,194 million pesos (about $873 million). The company operates across much of Latin America, the United States and in central and eastern Europe. It has helped make Slim the world's fifth-richest man, according to Forbes magazine, which estimates his family fortune at $64 billion. jg/axm/dga/rbu/fox
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  • America Movil reports $1.2 billion loss in first quarter
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