America Movil’s Profit Misses on Slowing Mexican Economy (1)

Billionaire Carlos Slim’s wireless provider America Movil SAB missed net income projections for the first quarter after an economic slowdown in its two biggest markets led to more than a million prepaid subscribers disconnecting their service.

US tariff threats have added to economic worries in Mexico, leading to more cautious consumer spending. Including Brazil, America Movil’s two biggest markets saw almost 1.4 million prepaid customers discontinue service, the company said in a statement on Tuesday.

America Movil’s shares fell by as much as 1.8% before paring most of the decline in Mexican stock trading Wednesday.

First-quarter net income of ...